Stock market analysts have suggested short-selling in Reliance Communications Ltd (RCom) stock. 

Shares of the company, on Wednesday (Sep 24), closed at Rs 370.35 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 2183918. Current EPS & P/E ratio stood at 10.16 and 35.86 respectively. The share price has seen a 52-week high of Rs 844 and a low of Rs 325 on BSE. 

Due to the recent stock market position, interested traders are recommended to sell the stock around Rs 372. After selling the stock at the said price, traders can buy it around Rs 365 to make intraday gain.

With the aim to strengthen its presence in the worldwide markets, Reliance Big Entertainment, RCom’s wholly owned arm, has purchased a majority stake in US-based Willow TV.

The company eyes synergies from the attainment via flawless integration of cricket, films and TV content, which would provide its audience great choice and better viewing experience.

RCom has also decided to fortify its existence in rural areas in Tamil Nadu in a major way. 

The company aims to raise its distribution reach to 13,500 villages out of the 15,000 in Tamil Nadu.

Reliance Big TV, during the last month (Aug 2008), launched India’s first fully digital home entertainment service on world’s most advanced MPEG4 Direct-To-Home (DTH) platform.

For the quarter ended June 30, 2007, RCom has registered a 23.90% increase in its net profit after tax, which stood at Rs 15,121.50 million as compared to Rs 12,204.30 million during the same period of the last year.

Total Income surged by 23.66% to Rs 53,221.70 million for the period from Rs 43,037 million for the quarter ended June 30, 2007.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Bharti Airtel, Tata Comm and MTNL.