RCom gains over 1% on Aircel infra sharing deal

The stock surged to a high of Rs 273 - up 5% from the previous close. It slipped from the high and finally ended with a gain of 1.3% at Rs 264. around 2.53 million shares were traded on the BSE today.
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(Updated at 1058 hrs)

Reliance Communications (RCom) has moved up 3% on talks with Aircel for $300-million infrastructure sharing deal.

Reliance Communications opened at Rs 262 and surged to a high of Rs 268. The scrip is now trading at Rs 268, up 3% from the previous close. Around 278,126 shares have been traded on the BSE so far.

 

Aircel Cellular and Reliance Communications are in the final stages of negotiations for a Rs 1,440 crore infrastructure outsourcing deal.

Reliance Communications  will execute this agreement through its tower subsidiary Reliance Infratel, in whichthe former holds a 95% stake. This contract includes an agreement for towers, voice carriage and bulk bandwidth.

Read here: RCom, Aircel may sign $300 mn infra sharing deal