GTL Infrastructure rallies 5% on tower deal with Reliance Jio

NEW DELHI: GTL Infrastructure Ltd rallied as much as 4.98 per cent in trade on Friday after Reliance Jio Infocomm has signed yet another deal to rent telecom towers as the Reliance Industries unit gets infrastructure ready to roll out high-speed data and voice communication services some time next year.

At 09:30 a.m.; GTL Infrastructure was locked in upper circuit at Rs 3.16, up 4.98 per cent.

Reliance Jio's deal with GTL Infrastructure is at least its eighth to share telecom infrastructure. While Reliance Jio and GTL didn't specify details of the deal, a person familiar with the matter said Reliance Jio will rent 2,000 towers by September-end and another 8,000 over the next six to eight months, ET Reported.

GTL has more than 30,000 towers in total.

As per the report, Reliance Jio plans to lease around 70,000 towers and put up 30,000 of its own, including small cell sites on single poles, as it aims to launch fourthgeneration data and voice services.