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Reliance Communications Ltd is seen extending its rise next week as the overall sentiment over the stock remains positive following the recent fibre optic deal with Reliance Industries Ltd, while legal issues faced by Bharti Airtel will keep that scrip in focus. In the concluding week, stocks of Reliance Communications ended up 23.5% on the National Stock Exchange. Market expects that more such deals will be sealed with Reliance Industries in coming months. Sentiment around the Reliance Communications stock has also been positive on account of reports that the company may soon ink a deal with Batelco (Bahrain Telecommunications) for selling 80% stake in its step-down subsidiary Globalcom for 50-60 bln rupees.
Stocks of Bharti Airtel will be in much focus next week as the Supreme Court's three-judge bench headed by Chief Justice Altamas Kabir will on Monday hear Central Bureau of Investigation's reply to company Chairman Sunil Bharti Mittal challenging the 2G trial court's summons against him in the excess spectrum grant case. Bharti Airtel is expected to trade in a narrow range next week.
Reliance Communications Ltd is seen extending its rise next week as the overall sentiment over the stock remains positive following the recent fibre optic deal with Reliance Industries Ltd, while legal issues faced by Bharti Airtel will keep that scrip in focus. In the concluding week, stocks of Reliance Communications ended up 23.5% on the National Stock Exchange. Market expects that more such deals will be sealed with Reliance Industries in coming months. Sentiment around the Reliance Communications stock has also been positive on account of reports that the company may soon ink a deal with Batelco (Bahrain Telecommunications) for selling 80% stake in its step-down subsidiary Globalcom for 50-60 bln rupees.
Stocks of Bharti Airtel will be in much focus next week as the Supreme Court's three-judge bench headed by Chief Justice Altamas Kabir will on Monday hear Central Bureau of Investigation's reply to company Chairman Sunil Bharti Mittal challenging the 2G trial court's summons against him in the excess spectrum grant case. Bharti Airtel is expected to trade in a narrow range next week.
