RCom, FT gain on m-commerce deal

RCom touched a high of Rs 310 and finally ended with a gain of 2.5% at Rs 308. Around 1.78 million shares changed hands at the counter on the BSE today.

FT, meanwhile surged 2.5% to a high of Rs 1,425. The stock ended up 1.5% at Rs 1,411. The counter witnessed trades of 44,878 shares on the BSE.
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(Updated at 1037 hrs)

Reliance Communications (RCom) is in advanced stages of negotiations with Atom Technologies, a group company of Financial Technologies (FT) for a mobile commerce agreement.

RCom opened at Rs 305 and touched a high of Rs 309. The scrip is now trading at Rs 306, up around 2% from the previous close. The counter has clocked volumes of 399,782 shares on the BSE. The stock has advanced 18% in a month.

FT opened at Rs 1,409, touched a low of Rs 1,392 and zoomed to a high of Rs 1,415. The scrip is now trading at Rs 1,400, up around 1% from the previous close. The counter has witnessed trades of 5,680 shares.

If the deal is signed then RCom expects total revenues of around Rs 800 crore over the span of next three years.

Read here for more news: RCom, Financial Tech arm may ink m-commerce deal