Hold on to Reliance Communications: Saurabh Mukherjea

ET Now spoke to Saurabh Mukherjea, Head of Equities, Ambit Capital, on Reliance Communications.

Your thoughts on R Comm? Would you agree that the event risk for R Comm is now over?

A couple of months ago when the stock hit Rs 90, we cut our sell call and put the stock on hold. It has risen to 110 since then. Our valuation remains 120. We do not think the announcements that came out on Saturday have a material impact on Rs 120 valuation, so we will continue with our hold call and Rs 120 valuation on R Comm.