Future of RCOM looks bullish: Experts

Mumbai, June 7 (UNI) Anil Dhirubhai Ambani owned Reliance Communications (RCOM) scrip today advanced by 1.25 per cent to Rs 523 on the premier Bombay Stock Exchange (BSE).

It has added 1.4 million subscribers last month, after accumulating one million users in April, taking its total mobile user base to a whopping 30.5 million.

Market analysts tracking the cellular sector pointed out that RCOM, which currently provides only CDMA service, is awaiting allocation of spectrum from the government for a national roll-out of its GSM service. The company had earlier applied for additional spectrum allocation to the government.

Besides, the company has also recently launched a special lifetime validity offer of Rs 222 for its GSM subscribers, analysts noted.

UNI