Stock market analyst Pankaj Jain of Satguru Capital is of the view that investors can buy Reliance Communications Ltd with target of Rs 203.

According to analyst, the investors can buy the stock with strict stop loss of Rs 187.

The shares of the company, on June 25, closed at Rs 192.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 319.70 and a low of Rs 134.25 on BSE.

Current EPS & P/E ratio stood at 24.12 and 8.21 respectively.

RCom, on June 27, declared that it has decided to sell its telecom tower business to GTL Infrastructure, which is a Mumbai-based listed company.

RCom's tower business is operated under a 95% owned company - Reliance Infratel.

Under the pact, the particulars of which are yet to be disclosed, Reliance Infratel will combine its tower business with GTL Infra.

The enterprise cost of the merged business is projected to be at Rs 500 billion.

RCom will keep hold of the optical fibre network and associated business of Rel Infra with itself.

The tower business only will be diverted and later amalgamated with GTL Infrastructure.

The directors of the companies have given their nod to the agreement.