RCom Intraday Buy Call

RCom Intraday Buy CallTechnical analyst Nishant Jain of Tradeswift Broking has maintained 'buy' rating on Reliance Communications Limited stock with a target of Rs 108.

According to analyst, the investors can buy the stock with a stop loss of Rs 94.

The stock of the company, on March 14, closed at Rs 100.50 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 11.19 and 8.73 respectively.

The share price has seen a 52-week high of Rs 204.75 and a low of Rs 87.45 on BSE.

The country's second biggest mobile network operator by subscribers, RCom has declared the introduction of 3G services in Bihar comprising Jharkhand.

At first, 3G services in the Bihar circle are limited to Patna, but the cellco stated that a further nine cities comprising Bhagalpur, Gaya, Chhapra, Ara, Katihar, Muzaffarpur, Biharsharif, Begusarai and Hazipur will be comprehended by March end.

In Jharkhand for the meantime six cities comprising Ranchi, Dhanbad, Jamshedpur, Bokaro, Jharia and Chas will be covered during the initial stage.

While talking on the development, RCom's regional head, Vivek K Garg, said, "Reliance 3G places us in a unique position with our suite of offerings covering 3G, CDMA, GSM and mobile broadband data services on the wireless platform."

RCom proposes to offer 3G services in 17 major towns in Orissa by March end.

RCom has a subscriber base of about 4 million in Orissa.

The company has already launched its third generation services in Mumbai, Delhi, Kolkata and Chandigarh.