Doyen Wealth Management: Best Delivery Buy !!! Reliance Communications Ltd ( RCOM ) : Rs 196.15

( Recommended in SAKAL NEWS PAPER. Arthvishwa ) : 6th April 2009

Notables Observes:

Reliance Communications Limited (RCL) is the flagship company of the Anil Dhirubhai Ambani Group (ADAG), is India's largest private sector information and communications company with over 48 million subscribers.
It was established in the year 2004 as Reliance Infrastructure Developers Private Limited, Reliance Communications started laying 60,000 route kilometres of a pan-India fibre optic backbone with high capacity, integrated (wireless and wireline), convergent (voice, data and video) digital network and to offer services spanning the entire infocomm value chain.
It is capable of delivering a range of services spanning the entire infocomm (information and communication) value chain, including infrastructure and services for enterprises as well as individuals, applications, and consulting.
The Company's business encompasses a complete range of telecom services covering mobile and fixed line telephony. It includes broadband, national and international long distance services and data services along with an exhaustive range of value-added services and applications.

Share Holding patern :

Financial Highlights :

Net Profit / (Loss) of Rs. 1410.31 Crore for the quarter ending on 31-DEC-2008 against Rs. 1610.80 Crore for the quarter ending on 30-SEP-2008.
Net Sales of Rs. 5441.53 Crore for quarter ending on 31-DEC-2008 against Rs. 5026.31 Crore for the quarter ending on 30-SEP-2008.

Technical Overview :

The stock On weekly Chart has closed above the Trendline connecting all the tops as shown the in chart above.
And also has formed "Higher Tops & Higher Bottoms" for last 3 weeks indicating the trend reversal and beginning of an uptrend. The stock is recomended to buy cmp Rs 196.15

Support Levels :

Stop Loss : 150 on closing basis.

Targets :

Period : 2 to 3 months.

Doyen Wealth Management