Home Telecom RCOM ends 9% higher

RCOM ends 9% higher

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RCOM stock ended 9% higher at Rs. 33.35.

The stock has hit a high of Rs. 34 and a low of Rs. 28.

Reliance Group Chairman Anil Ambani reportedly said that the “new” Reliance Communications (RCOM) will be “capex light” and emerge as India’s largest B2B (business-to-business) entity that is “focussed on the global and enterprise business”.

“There is a huge opportunity — and as an opportunity for India grows with $400 billion in reserves and, we will grow as well,” Ambani reportedly said.

Earlier RCom signed a deal with Mukesh Ambani’s Reliance Jio to sell four wireless infrastructure assets for Rs. 23,000 crore on December 28.