HNI Traders May Soon Exit RCom

The market is abuzz with speculation that an influential group of HNI traders, who bought Reliance Communications at `52-`55, could partly cash out in the coming days. The talk is that RCom may announce the muchawaited stake sale in its tower unit over the weekend. RCom did not respond to an email query on the matter.

The stock rose 2% to close at Rs 78.5 on Wednesday. HNIs had bought shares in the anticipation of this deal. Brokers are speculating there could be a delay in the RCom's spectrum trading deal with Reliance Jio.