 "RCom extends gains on talks for spectrum sharing with RJio")
Shares of Reliance Communications (RCom) has rallied 10% in two days after the company stated that it has plans to join hands with Mukesh Ambani led Reliance Jio Infocomm to offer fourth-generation (4G) services via spectrum sharing and trading route in the 800-850 Mhz band.
Reliance Jio which is expected to launch its 4G service by the end of this year will be able to access RCom’s 2G and 3G network via this partnership. Meanwhile, RCom will enable it to utilise Jio’s 4G network. There will be a reciprocal agreement for roaming, for the benefit of customers in both the networks.
Anil Ambani stated that this strategic cooperation and partnership between RJIO and RCom is a virtual consolidation in the telecom sector and I'm grateful to my elder brother Mukesh bhai for unstinted support and guidance.
At 1:30 PM, the stock is up 4% at Rs 70 on the BSE. The stock opened at Rs 68.80 and touched a high of Rs 72.35 on the BSE. A total of 2,586,928 shares changed hands on the BSE so far.
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