The housing societies in Mumbai (Bombay) treats (probably the worst minority in the city) the House Seekers - single women (or men) to media professionals, non-vegetarians to non-Hindus, who are looking for a place to rest their head, very Badly; as fewer societies and home-owners are willing to let them.The list of codes one must master to fit the image of the ideal tenant in most of the housing societies in Bombay, are as long enough to compile an anthology even if they don't have a standing in the court of law.

Unfortunately this "SICK Concept", was promoted and is being prompted by the leading political outfits in Bombay.

While the trouble in Mumbai's living spaces is not new, I sincerely ask: What is the current BJP - Shiv Sena - government doing when the basic fundamental rights of Indians are violated..?

Tuesday, April 26, 2016

Winning Strokes: Think Different
Monsoon has its own charm. Even before the sky over Dalal Street got overcast, the Indian equity markets gave another round of thumbs up, to the forecast of above normal rains during the upcoming monsoon season. Moreover, better than expected inflation numbers and IIP data coupled with positive global cues also aided to, today’s smart upmove. 

Idea Cellular Ltd recommended few days back at Rs.117, today touched Rs.124-plus on intra-day. The scrip closed at Rs.123.75, giving handsome gains to the investors.

IRB Infrastructure recommended today at Rs.113.05 touched Rs.115-plus intra-day. The share closed at Rs.114.80 in the BSE.

Some of my earlier, recommended stocks which did well today are BHEL (Rs.129.15, up 2.79%), Vedanta Ltd (Rs.106.45, up 4.36%), Tata Steel (Rs.358.60, up 3.21%), etc.

Gitanjali Gems Ltd today touched Rs.37.60, before closing at Rs.36.85. Meanwhile, the government has given assurance that Ashok Lahiri Committee will consider the demands of jewelry manufacturers. On March 19 there was a extensive meeting by a number of trade bodies which was represented from the government side by Piyush Gupta, and subsequently Amit Shah also came into the meeting and it was agreed that certain draconian laws in the excise will not be levied on the gems and jewellery sector such as excise officers coming into the premises of the jeweller or the manufacturer and as the perception about these excises officers is, they tend to pickup random samples for themselves. 
The jewellers had gone on a strike since March 2 after Finance Minister Arun Jaitley in his Budget announced a 1% percent excise tax on non-silver jewellery. 
The introduction of stricter PAN card requirements for purchase of jewellery is unlikely to impact Gitanjali Gems in a major way, says Sanjeev Agarwal, CEO of Gitanjali Export Corp. "Unlike many other listed companies, Gitanjali Group is fully diversified across geographies, product categories and lines," he said.
"While jewellery accounts for 70 percent of our turnover, diamonds account for the remaining 30 percent, which is not impacted," he said.
"Within jewellery, 60 percent of sales are from the international market. For the domestic market also, a majority of our sales are through department stores or ecommerce companies," he added. "So the impact will be very less."
He added Gitanjali brands such as Gili, Nakshatra and Asmi are in the daily consumption and fashion space rather than wedding wear.
"Hence, the price point of sales is much lower than the typical jeweller. Hence, the PAN card norm will also not affect us much."
The scrip of Gitanjali Gems Ltd, will slowly move towards Rs.55-61-67-72, in the days to come;  as according to the experts, the fundamental demand for jewellery is still intact.


IRB Infrastructure Ltd: Buy
CMP: Rs.113.05

IRB Infrastructure Ltd is basically a BOT player and hence has high margin business.

Moreover, IRB's (blended) margins now stands at 52% according to some media reports. For IRB, the margins in the construction business are 35 per cent; BOT business earns over 80 per cent margins.

It has an order book of Rs.10,600 crore. IRB's current revenue visibility is for the next two to three years.

However, the Foreign brokerage Citi says that any fall in toll revenue growth will add to concerns on IRB's debt. Its debt-equity ratio now stands at 2.71 in FY16 as against 2.52 in FY15.

You can buy the scrip at Rs.213.05, for targets of Rs.217-219-221-224-236. SL- Rs.207.

Note: Today the scrip was recommended to the Paid Group members at Rs.213.05, after which it moved to Rs.215-plus; giving good Intra-day profits.

I do not recommend 100 stocks in a day, resembling monthy grocery list, unlike many others. Join my services to stay ahead of others.

Monday, April 25, 2016

Do You Know..?
Reliance Infrastructure Ltd’s (Rs.546.35) Mumbai power distribution business (known as Reliance Energy Ltd) distributes power to nearly three million residential, industrial and commercial consumers in Mumbai’s suburbs, covering an area of 400 sq km, and catering to a peak demand of over 1,800 MW, with revenues of Rs.7,700 crore in FY2014-15. The Mumbai power distribution business is R-Infra’s biggest, in terms of topline, and accounts for 44% of the company’s consolidated turnover, which stood at Rs.17,198 crore in 2014-15.
Photo: The Economic Tmies

The Reliance Infrastructure earlier signed a non-binding term sheet with Canadian pension fund Public Sector Pension Investment Board (PSP Investments) to sell 49% stake in the company’s Mumbai power generation, transmission and distribution business. While the proposed transaction is subject due diligence and regulatory approvals, the deal is likely to fetch the company Rs.3,500 crore, if concluded by H1FY16.

Moreover, though the company is yet to conclude the acquisition of Pipavav Defence and Offshore Engineering, the stake sale of Mumbai power business would boost Reliance Infra’s valuation. 

In other words, successful completion of the deal will help the Anil Ambani-led company substantially de-leverage its balance sheet while retaining control of the business with a 51% stake.

There were earlier media reports that at least half the debt on the company’s books is on account of the Mumbai power transmission and distribution assets, which will be transferred into the new SPV to be formed (along with these assets).

With the cash component that R-Infra will receive as part of the deal, it may further pare debt at the level of the parent company.

The equity research firm, Edelweiss however last year commented: “After the proposed deal the listed entity will be left with the engineering procurement construction (EPC) business, the Mumbai metro and Delhi distribution businesses all which have limited growth visibility.”

Besides, Reliance Infrastructure few months back announced its intention to exit cement, road and other non-core businesses. This, coupled with the PSP deal points to the company’s increasing focus on the defence business. The company is expected to get Rs.8000 crore to Rs.9000 crore from its 11 roads. Analysts believe the firm is transitioning itself from a services-based entity to a manufacturing entity focusing on defence. 

According to an Economic Times news briefing: These days, the ADA Group boss, Anil Ambani spends more than 70% of his working hours on what is seen as a sunrise sector for Indian industry. In the past year, he visited at least two global defence equipment manufacturers every month and signed partnerships with several of them. In between, from Paris to Dubai, Moscow and Abu Dhabi, he hasn't missed any major defence and aerospace shows.

A country that spends more than $40 billion every year in defence, India is still largely dependent on imports to meet military requirements.

The government's Make in India campaign to boost domestic manufacturing has opened up opportunities for Ambani's Reliance Infrastructure, but he will also have to compete with more established players like the Mahindra and Tata groups and Larsen & Toubro. 

Under its Reliance Defence unit, Reliance Infra floated a cluster of companies and made a host of high-profile hiring, from the former India head of US defence contractor Lockheed Martin to top-ranked retired officers of the armed forces. It is seeking to rapidly set up manufacturing infrastructure — primarily two defence parks to make aircraft to armoured vehicles and air defence systems, and a shipyard on the east coast. 

In another significant development, The Economic Times today wrote: "Global headwinds are likely to keep the domestic stock market volatile, but cement is one sector which analysts feel could outperform the broader market in the near term supported by improvement in demand, capacity expansion as well as better realisation. 

In February this year, Reliance Infrastructure, sold its cement business to Birla Corp. The deal valued 5.08 mtpa cement business at Rs.4800 crore, at USD 140 per tonne.

Reliance Infra said the proceeds from the sale will be utilised for debt reduction. Total debt on the books of Reliance Infra stands at around Rs.20000-25000 crore. The deal is EPS accretive for shareholders, according to the analysts.

After this deal is through, Reliance Infrastructure will be able to focus on its core business of infrastructure, while the debt in the cement subsidiary will be transferred to the acquirer -- Reliance Infra’s highly leveraged balance sheet will get some relief.

Last month Reliance Infrastructure brought in Braj Kishore from SBI Life to Head Corporate Communication fot taking the perception of Reliance Infrastructure to newer heights through optimally harnessing various communication tools – traditional and new age.

Meanwhile, Reliance Capital, Reliance Industries, Reliance Infrastructure and Reliance Power along with 70 other stocks have seen no change in their market lot size for derivative contracts; according to a recent NSE filing.

Therefore, buy the shares of Reliance Infrastructure Ltd at Rs.546.35, for a short term target of Rs.600-plus. SL- Rs.537.

Friday, April 22, 2016

Idea Cellular Ltd: Buy
CMP: Rs.117
Target: 127; SL: Rs.114.60.
Period: 15 - 20 days. 
Note: The scrip of Idea Cellular was recommended to the Premium Group members today at Rs.117. The stock already made an intra-day high of Rs.118.40.
Reliance Infrastructure Ltd: Buy
CMP: Rs.550.20
The Union budget 2016-17,  allocated a huge amount for public investment into infrastructure. 

The budgetary outlay is around Rs.2.21 trillion in infrastructure. The government did this while maintaining the fiscal deficit to ensure that government bond yields come down and the borrowing rate of the government is within manageable limits.

India's infrastructure output grew an annual 5.7 percent in February, its fastest pace in at least 13 months, mainly driven by a surge in production of cement and fertilizers, government data showed on Thursday.

Infrastructure accounts for nearly 38 percent of India's industrial output.


Cement production last month was up 13.5 percent from a year earlier. Fertilizer output grew an annual 16.3 percent, the data showed.

European cement manufacturers with a presence in India are likely to benefit if the Indian government's plans to ramp up infrastructure spending come to fruition in the next 12-18 months, says Moody's Investors Service today in a new report. India's 2016 Union Budget, announced on 29 February, contained plans to hike public infrastructure spending, especially on roads, which could revive stagnant cement demand in the country.

According to the Indian government's 12th Five Year Plan (2012-17) investment in infrastructure should increase from 7.6% of GDP in 2014 to 9% in 2017. However, cement demand for government-funded projects has been weak in the last four years with many construction schemes delayed or put on hold. As a result, while infrastructure investment will be a key growth driver, the timing of such investment remains uncertain.

Meanwhile, there were media reports in February, 2016, that Birla Corp. Ltd is set to buy the cement assets of Anil Ambani-controlled Reliance Infrastructure Ltd for about Rs.5,000 crore. In November, 2015, Reliance Infrastructure told stock exchanges that it will sell its 5.6 million tonnes per annum (mtpa) cement business and related assets through a formal process.

The company said that it had shortlisted seven bidders for the asset.


Private equity firms Carlyle Group, Blackstone Group and Baring Private Equity Asia, and cement companies JSW Cement, JK Lakshmi Cement Ltd, Birla Corp.and Chinese cement maker China Resources Cement Holdings Ltd were the shortlisted bidders, Mint reported 4 December.

Reliance Cement’s capacity is spread across four states: an integrated unit in Madhya Pradesh and grinding units in Uttar Pradesh, West Bengal and Maharashtra.

Reliance Infrastructure is looking to sell the cement and roads businesses to focus on its new defence business, and the company is keen to reduce debt that has been incurred on account of these businesses.

Also, the company may sell its entire road operation in the next 45 days, according to a CNBC TV report.


In another significant development, in one of the biggest joint ventures between an Indian Company with any original equipment manufacturer (OEM), Reliance Defence Ltd, a 100% subsidiary of Reliance Infrastructure Ltd and Rafael Advanced Defence Systems Ltd have decided to set up a joint venture company in India in the highly specialized areas of Air to Air Missiles, Air Defence Systems and Large Aerostats.

The Joint Venture will provide big thrust into the field of indigenous production and development of High Precision and state of the art Weapon Systems in India. The Strategic Partnership with technology power house and one of the world leaders in Defence Technologies, Rafael Advanced Defence Systems Ltd of Israel will mark the entry of Reliance Defence in the complex field of Air to Air Missiles and Air Defence Systems manufacturing in India.

Reliance Rafael joint venture will have 51% holding from Reliance Defence and 49% by Rafael as per the current guidelines of the Government of India. The joint venture company will be located at Pithampur, Indore in the state of Madhya Pradesh and will generate more than 3000 highly skilled jobs. The project will have an initial capital outlay of more than INR 1,300 crore, without including the cost of technology.

Rafael has already provided large aerostat systems to the Indian Air Force for meeting its surveillance, reconnaissance, communication and intelligence needs.

The two companies, through the Joint Venture, will offer the entire range of products in these fields to the Indian Armed Forces. Rafael is also willing to offer solutions through the joint venture company even for the ongoing "Buy Global" programs where it is currently competing, in line with "Make in India" initiatives of the Indian Government.

Based on the current requirements, the joint venture company will address multiple Programs valued at more than INR 65,000 crore over next ten years.

Reliance Infrastructure Ltd made a peak of Rs.2,425 in January 2008, hence it has a long way to go from the CMP of Rs.550.20. Once known as momentum counter, Reliance Infrastructure is now showing a fresh lease of life as it approaches the support zone of Rs.547 - 556.

Therefore, buy the shares of the company at Rs.550.20 for a short term target of Rs.760. SL - Rs. 539.

Sunday, April 10, 2016

New Offer: Sit at Home and Earn through Proxy
Dear friends, now get 5-10% on your investment in equity market per month, through daily / short term share trading. 

Features:
1. You need to open an account (Demat) with my recommended brokerage house (compulsory).

2. After opening the Demat (and Trading) Account, the trader/investor will have to deposit a minimum seed capital of Rs.50,000-1,00,000; which can be increased later, if you are satisfied with the performance.

3. All the profit above 10% per month will go the account of my firm. This means say in a particular month you make Rs.15,000 on Rs.100000; you have to deposit Rs.5000 in my Firm's account; your account will get Rs.10,000 (max) even if the total profit in a month is 50,000.

4. The trading will be done by me only in A-group and select B-group shares both in the cash and futures market. The profit will be calculated within the 1st week of the next month and the transaction squared off.

5. You have to pay an advance fee of Rs.15000, which will be returned to you once you leave the service. 

This has been deliberately done to stop (or put a check on the activities of) the frauds, who come in many forms (Doctors, Engineers, IT professionals, Businessmen, Army Colonels, NRIs, etc) and who suddenly vanishes without paying any respect to the contractual agreement--all my hard work going down the drain.

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This offer is valid for a limited period only, as there is a limit on the number of accounts, I can personally handle in a day.

Note: Those who have applied for the same and for whom the service has not yet started, I would request them to be patient and wait for some more time for the processes to get completed. The delay is basically due to the new Demat and Trading form which arrived late.

Friday, April 08, 2016

Coal India Ltd: Buy
CMP: Rs.281.30
Edelweiss's research report on Coal India:
We met senior management of Coal India (CIL) to know more about the steps the company is taking to tackle the impending wage hike and meet its sales target, among other things. CIL is confident of mitigating effects of the impending wage hike and increase in clean energy cess. Further, it has maintained its production target of 598mn tonnes for FY17. CIL is targeting to reduce costs by 5% every year primarily through manpower cost rationalisation and enhancing operating and supply chain efficiencies. Our assumptions remain unchanged. We maintain ‘BUY’ with TP of INR376 (16x FY18E PE). 
We believe that the company would be able to maintain its margins in FY17E led by pass through of wage hikes and volume growth. We keep our assumptions unchanged for FY17E and FY18E. The stock is trading at 12.0x and 12.5x FY17E and FY18E EPS, respectively. Maintain 'BUY/SO' with target price of INR376.

Additional inputs from Live Mint: It’s worth noting that CIL declared an interim dividend for FY16 worth Rs.27.40 per share recently.

Nevertheless, what offers some hope is that demand from the power sector could improve as we enter the summer season. That in turn is likely to boost coal demand. “Central Electricity Authority data indicates 13-15GW (gigawatts) of annual power capacity addition based on domestic coal in FY17-19 period, which alone can drive 9-10% coal demand growth,” points out JM Financial Institutional Securities Ltd.

And then, about 50% of current coal imports is to offset the shortfall in domestic production, added the brokerage firm. “Barring seasonal anomalies we believe coal demand will keep growing structurally,” JM Financial said in a report. Needless to say, if that pans out, CIL will benefit.

Currently, one CIL share trades at about 11 times estimated earnings for FY17. While valuations seem to be factoring in most of the negatives, what are the triggers?

With dividend now behind us and a forthcoming wage hike in July, focus would shift to FSA (fuel supply agreement) volumes price hikes, said Bhaskar Basu of Jefferies India Pvt. Ltd. “While there is uncertainty around price hikes, we believe market is already factoring in no price hikes,” points out a Jefferies report on 3 April.

Accordingly, potential price hikes and news flow surrounding that will act as a trigger from a near-term perspective.

Having said that, slower-than-expected volume growth and lack of price hikes will pose downside risks to earnings estimates.

Thursday, April 07, 2016

Vedanta Ltd: Buy
CMP: Rs.87
DO YOU KNOW?
Reliance Communications Ltd (RCOM) has entered into active infra sharing with 4G entrant Jio, which allows RCOM to offer 4G services without investing much capex. RCOM's active sharing limits its (RCOM, the anchor tenant) demand for additional towers in the near to medium term.

This will save infra - cost of Reliance Communications Ltd (Rs.50.95) and will be EBIDTA positive.  

Also, the RCOM has chosen to offer 4G services, by leveraging (Mukesh Ambani's) Reliance Jio’s 4G network. This is the key point which will give RCOM the much needed ammunition, to rationalize its price (call tariff and data) against the price offered by Reliance Jio and other players; giving it some advantage.

Moreover, if RCOM asks for a premium from Jio for trading in 800 spectrum-band, then it can help it ward off some of the debts.

Besides, the Union Cabinet has cleared liberalisation of spectrum - allocated without auction to telecom companies - at Trai recommended price with the balance being collected after deriving market rate through bidding.

A liberalised spectrum allows telecom operators to use any technology to deliver mobile services like 3G and 4G. Besides, they will be able to introduce new technologies and share and trade it with other operators for its efficient use.

The Cabinet decision taken, will enable Reliance Communications   (RCom) to liberalise its spectrum in four telecom circles, where auction determined price is not available, for Rs.1,300 crore. A liberalised spectrum allows telecom operators to use any technology to deliver mobile services like 3G and 4G. Besides, they will be able to introduce new technologies and share and trade it with other operators for its efficient use.


Therefore, in any case the target for Reliance Communications Ltd (Book Value: Rs.144.13; Market Cap of Rs.12681.25 Cr), stays at Rs.71, in the short term.

Monday, April 04, 2016

McLeod Russell Ltd: Buy
CMP: Rs.194
Target: Rs.210
SL: Rs.187.
Inpoll-bound West Bengal, closure of multiple tea gardens thanks to what industry insiders claim to be due to rising labour wages, is likely to affect annual tea production this year. The Western India Tea Dealers Association (WITDA) claimed that a crop shortfall of around 50 million kg is likely by March 2017 if the crisis continues.
As for impact on prices, the WITDA said that the situation would be more clear after June.

India produces around 1,250 million kg of tea, of which around 200 million kg is exported. Of this Dooars produces around 325 million kg, the gardens in southern India produce around 320-330 million kg and the rest is by Assam. As such small tea growers across India produce nearly 350 millon kg of tea. Labour cost is about 60 per cent of the cost of production of tea.

WITDA claimed that as the reputed Duncans Goenka Group shut down seven of its tea gardens in North Bengal, close to 25,000 people became unemployed. WITDA president Piyush Desai who is also the chairman of Wagh Bakri Group said that tea garden owners are reeling under the rising labour wages. "Tea industry is one of the largest employers after the Indian Railways, and it employs one of the largest women workforce. However, as cost of labour rises, tea gardens are increasingly finding it unviable to continue with operations. Only recently, the renowned Duncans Group under GP Goenka closed down seven of its tea gardens."

While tea prices have been increased at the rate of 3-4 per cent per annum on an average, wages have moved up from Rs 112.50 in April 2014 to Rs 122.50 as on April 2015, and is scheduled to go up to Rs 132.50 from this month. This is almost a 40 per cent increase in three years.

The tea industry on the whole employs 1.1 million people and thus cannot be ignored politically. Rising of wages has been a direct corollary.

Between 2002 to 2007, 17 tea gardens shut down in Dooars and at least 1,200 deaths were reported in the area.

The situation is comparatively better in Darjeeling (which fetches higher prices of Rs 400-500 per kg and 70 per cent of it is exported), however, other gardens in West Bengal get an average price of around Rs 120-140 per kg, as compared to Rs 160-170 per kg. In Assam, Desai claimed while the profits have come down, not many tea gardens have closed down.

Desai said, "These are trying times for the industry. Prices fetched in the market are almost stagnant. Add to that, the PF, annual leave, sick leave, festival leave, bonus, housing, medical expenses, rations and basic protective gears like chappal, umbrella and blanket of the garden workers that has to be covered for."

Higher tea prices, as is expected, WITDA said, will also impact the livelihood of lakhs of small time tea vendors who survive selling prepared tea in cups. It feels that the need of the hour is a concerted action taken by the respective state government and the Centre to work out ways to resolve issues so that the tea industry.

Courtesy: Businesses Standard

Thursday, March 31, 2016

Do you know?
Reliance Communications, controlled by billionare Anil Ambani, has entered a 90-day exclusivity period for talks to combine its mobile phone services business with smaller rival Aircel.

The Reliance mobile phone business is India's fourth-biggest by number of customers, while Aircel, majority owned by Malaysia's Maxis Communications, ranks fifth.

Combined, the duo could overtake Vodafone's Indian business, the No. 2 by subscriber numbers.

Meanwhile, in January 2016, RCom said that it would share and pool its 800MHz spectrum with Reliance Jio in 17 regions. Rcom has future plans to share 800MHz spectrum in the remaining five circles. Spectrum sharing will give Rcom access to a wider band of spectrum and Jio's network to provide faster 4G data services and provide capex and operating costs savings.

RCom and Reliance Jio signed reciprocal infrastructure agreements during FY14-15 to share Rcom's 43,000 towers, 120,000km of inter-city fibre, and 70,000km intra-city fibre network for the next 17-20 years. Under the agreements, Rcom also has access to existing and future towers and fibre assets of Reliance Jio.

The ratings firm reckons that RCom's acquisition of Sistema Shyam Teleservices Ltd (SSTL), the Indian mobile subsidiary of Russia's Sistema JSFC, in an all-stock deal is credit neutral for Rcom, at least in the short term. RCom will benefit from additional nine million subscribers and Rs 15bn revenue and also will be able to extend the life of its 800MHz spectrum in eight Indian circles.

According to Fitch Ratings, ownership of a pan-India spectrum in 800MHz/850MHz and its ability to offer faster 4G data extent.es could help Reliance Communications Ltd (Rs.50.30), fend off the competition, to some extent.

Meanwhile, Anil Ambani-owned Reliance Communications (RCom) Ltd's, telecom towers and related infrastructure (45,000-strong tower assets) could have a hidden networth of around  at Rs 21,500 crore, according to some market reports.


Which means, Reliance Communication's consolidated debt of Rs.39,895 crore as of September, 2015, should actually be around of Rs.18, 395 Cr.


In another significant development, the telecoms unit of Reliance Industries, controlled by India's richest man Mukesh Ambani, is preparing to launch the nation's biggest 4G broadband network within the next couple of weeks.


If you remember, Reliance had launched it 4G LTE services, Reliance Jio, back in December only to its employees, as well as some Android powered smartphones, LYF series. Promises were also made about full rollout of services to customers by April 2016 and it looks like Reliance is on track.

Calling Jio the world's largest startup, Reliance Industries chairman Mukesh Ambani on Wednesday said the roll-out of its 4G services will lift India from a mobile Internet ranking of 150th to the top 10 slot. Speaking at the Ficci-Frames media and entertainment conclave in Mumbai, Ambani said Relaince Jio has four strategies: Expand country's coverage from 15-20 percent now to 70 percent, give broadband speed that is 40-80 times faster, increase data availability and make the services affordable.

Ambani, who is betting big on the latest venture of the refining-to-retail group with an initial investment of over Rs. 150,000 crores, said Jio will not be a mere telecom network but bring to its customers an entire ecosystem to allow a "Digital Life" to the fullest.

This ecosystem will comprise devices, broadband network, powerful applications and offerings such as live music, sports, live and catchup TV, movies and events, he said. "Jio is not just about technical brute force. It is about doing things in a smart, simple and secure way."

Mr.Mukesh Ambani said, "Currently the data consumption for an average Indian is 0.15 GB per annum. Jio’s network is engineered to provide a capacity of over 10 GB per user— that is nearly 100 times more than what he/she is using today.” He mentioned affordability as a key factor to make India digitally active.

This will be a very interesting event to watch, as the brothers work jointly to outbid / outsmart the other major players in the sector: Airtel, Vodafone and Idea Cellular.

Therefore, accumulate Reliance Communications Ltd (Rs.50.30), without fail: T - Rs.76, SL - Rs.47, Period - short term (60 days).