Reuters Market Eye - Standard Chartered downgrades Reliance Communications rating to "underperform" from "in-line", saying current valuations "fully reflect the upside from the optic fiber and tower deals."
The Ambani brothers signed a long-expected pact on Friday for their rival telecoms firms to share mobile masts in a contract valued at more than $2 billion over several years -- the biggest deal between them since a reconciliation.
Standard Chartered says the Reliance Jio tower deal may add 17-22 rupees per share to Reliance Comm's valuations, although risks exist from the pace of the ramp-up.
Reliance Comm's shares have gained 50 percent in 2013 so far compared to India's benchmark index which was flat in the same period.
(Reporting by Abhishek Vishnoi)
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