Stock market analysts have suggested investors to sell Reliance Communications Limited (RCom) stock as there are full chances of a downward trend in this stock.

Today, the stock opened weak at Rs 365, against its last closure at Rs 369.35 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 10.16 and 35.94 respectively. The share price has seen a 52-week high of Rs 844 and a low of Rs 325 on BSE. 

Stock analysts also suggested that if the stock fell below Rs 355, it may see more weakness. So the investors must sell the stock below Rs 364 with a stop loss above Rs 368 to achieve a target of Rs 358.

After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines.

Shares of RCom traded weak on Monday (Sep 22) and closed at Rs 369.35, as against its last closure at Rs 374.05 on Friday (Sep 19) on the BSE. 

To fortify its presence in the worldwide markets, Reliance Big Entertainment, RCom’s wholly owned subsidiary. has bought a majority stake in US-based Willow TV.

The company eyes synergies from the acquirement through flawless integration of cricket, movies and TV content that would provide its viewers great choice and better viewing experience.

Moreover, RCom has also decided to strengthen its presence in rustic areas in Tamil Nadu in a major way. 

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

During the last month (Aug 2008), Reliance Big TV 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.