Nirmal Bang has maintained ‘Buy’ rating on Reliance Communications Ltd stock to achieve a target of Rs 390 in 4-5 trading sessions.

Interested traders can buy the stock with a stop-loss of 327-323 as the counter is showing sign of revival.

According to Nirmal Bang, the stock may resistance at 340, if maintains above this level, then see a target of 390.

Shares of the company, on Wednesday (June 03), closed at Rs 332.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 564.80 and a low of Rs 131.35 on BSE. Current EPS and P/E of the stock stood at 11.40 & 29.89 respectively.

RCom, on May 30, has joined the list of companies planning to lift approximately $500 million funds via the qualified institutional placement (QIP) route.

On May 27, RCom declared that its stock holders sanctioned the demerger of the optic fiber splitting up of RCom to Reliance Infratel with requisite majority.

On May 26, BIG Cinemas, the exhibition arm of Adlabs Films, a member of the R-ADAG launched its first multiplex in Chicago.

The Supreme Court (SC), on May 13, issued notice to RCom on an appeal by MTNL alleging that the private mobile services supplier had meddled with the path of decrypting the point of origin of a call.

On May 08, Reliance Big TV said that it has decided to enter deals with Fox, Warner Brothers and Korean Broadcasting.

During March 2009, RCom added 3 million wireless customers.

Reliance had 69.6 million subscribers at the end of February, data from the telecom regulator showed.

The company offers a high-capacity, integrated (both wireless and wireline) and convergent (voice, data and video) digital network.