RCOM READY FOR BUYING ACCUMULATION !!!

RELIANCE COMMUNICATIONS (RCOM) HAS RAISED $800 MILLION (RS 4,800 CRORE) FROM ITS STAKE SALE TO INSTITUTIONAL INVESTORS ON JUNE 25, 2014. THE FUNDS RAISED THROUGH THE INSTITUTIONAL STAKE SALE OR QUALIFIED INSTITUTIONAL PLACEMENT (QIP) WAS 60 PER CENT HIGHER FROM THE ORIGINALLY PROPOSED RS 3,000 CRORE. 

THE QIP WAS PRICED AT 142.13 A SHARE AND THE STAKE SALE TO PROMOTERS AT 150 SHARE.

RCOM LAST CLOSE @ 123.10,, BUY RCOM BETWEEN 115-120 FOR UPSIDE TGT. OF 150-160++ HOLD FOR SHORT TERM AS INVESTMENT..