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MUMBAI: Shares<\/a> of Reliance Communications<\/a> rose 7% on Wednesday to post their biggest one day gain since September 30 as the company signed a deal with Brookfield Group to sell its tower business for Rs 11,000 crore.\n
\nThe stock ended at Rs 37.45 on the BSE after gaining 10% (or Rs 38.50) intraday.
\n
The deal boosted sentiment in other Anil Dhirubhai Ambani Group<\/a> stocks as well, with Reliance Capital<\/a>, Reliance Infrastructure and Reliance Power<\/a> gaining up to 2-3% intraday.
\n
\nHowever, they pared gains later to end 0.5-1.7% higher.
\n
\nAnalysts said upside in the near term would be limited as most of the positive developments surrounding the company have been priced in.
\n
\n“The Rs 11,000-crore upfront money coming from this deal and receivables from the Aircel deal is positive for the company and the group companies.
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\nMost of the good news has been priced in the near term but going forward, the stock will do well as digitisation through telecom will be a strong play in the time to come,” said Sanjiv Bhasin, executive VP-market and corporate affairs at IIFL.
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\nThe company has struggled in the mobile business with growth lagging its peers in the past several quarters.
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\nThe company’s consolidated net profit fell 80% from the year ago period to Rs 39 crore in the September quarter, while consolidated net sales fell 3.4% to Rs 5,090 crore.
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\nAlso, returns in the last few years have been inconsistent. So far in 2016, the stock is down 57.5%. In 2015, the stock gained 10%, but in the year before that, it fell 38.3%. Bloomberg data shows the stock is trading at 25.6 times one-year forward earnings and that 60% of the 20 analysts tracking the stock have a ‘sell’ rating on the stock.
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IDFC Securities in a note said the company has kick-started the deleveraging exercise with the Brookfield deal. The focus on creating a better wireless franchise through deals with Aircel and MTS and improving balance sheet<\/a> may help stabilise the company’s business, the brokerage said, maintaining a ‘neutral’ stance with a target price of Rs 44.
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\nThe deal is seen as a relief for the debts add led company. This deal, along with Reliance Communications’ previously announced wireless business merger with Aircel will reduce the company’s overall debt by Rs 31,000 crore. The company had approximately Rs 42,000 crore debt at the end of June.
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孟买:股票的信实电信周三上涨7%,9月30日以来的最大一天涨幅与布鲁克菲尔德集团公司签署了一项协议,出售其塔11000卢比。股票收于37.45卢比疯牛病后,盘中上涨10%(38.50或Rs)。
其他的交易提振情绪阿尼尔•迪路拜·安巴尼集团股票,依赖资本,依赖基础设施和信实电力获得2 - 3%盘中。
然而,他们缩减涨幅后结束0.5高出-1.7%。
分析师表示上升在短期内将是有限的,大部分的积极进展周围的公司已被市场消化。
“来自这笔交易价值11000卢比的前期资金和应收账款Aircel交易公司和集团公司是积极的。
大部分的好消息在短期内价格但展望未乐动扑克来,股票会通过电信以及数字化将会是一个强大的玩的时间,“说桑吉夫•哈IIFL VP-market和公司行政事务。
该公司一直在移动业务增长滞后的同行在过去几个季度。
公司的合并净利润下滑80%年前时期在第三季度39卢比,而净销售量下降了3.4%,至5090卢比。
同时,回报在过去的几年里已经不一致。2016年迄今,股票下跌了57.5%。2015年,股票上涨了10%,但在去年,下降了38.3%。彭博数据显示,一年期远期收益股票的市盈率是25.6倍,60%的20位分析师跟踪股票有一个“卖出”评级。
IDFC证券在一份报告中表示,该公司已启动布鲁克菲尔德的去杠杆化运动。专注于创造一个更好的无线系列通过处理Aircel和MTS和改善资产负债表可能有助于稳定公司的业务,经纪公司说,与目标价保持“中立”立场的Rs 44。
该交易被视为减免债务增加导致公司。这笔交易以及与Aircel Reliance Communications此前宣布的无线业务合并将会减少公司的总体债务31000卢比。该公司有大约42000卢比的债务在6月底。
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