GTL Infrastructure shares rally 5 per cent on tower deal with Reliance Jio Infocomm

MUMBAI: Shares of GTL Infrastructure today rose by 5 per cent after Reliance Jio Infocomm (RJIL), the telecom arm of Reliance Industries, signed a master services agreement for tower sharing with the company.

GTL Infra's scrip gained 4.98 per cent to settle at Rs 3.16 on the BSE.

At the NSE, the stock moved up by 3.39 per cent to Rs 3.05.

RJIL yesterday signed a master services agreement for tower sharing with GTL Infrastructure which has a base of 27,800 towers across the country.

RJIL holds pan-India broadband wireless access (BWA) spectrum and is planning to launch commercial 4G telecom services in 2015.

"GTL Infra, together with Chennai Network Infrastructure Limited ( CNIL), has a combined tower portfolio of more than 27,800 towers spread across 22 telecom circles in India", the company had said in a statement yesterday.