'Hold' RCom - Geojit BNP Paribas

- 'Hold' rating is maintained on Reliance Communications.

- Company's 2Q performance was largely in line with industry trends. RCOM's network minutes declined by 2.7% qoq compared to Bharti's and Idea's which declined 2.1% and 4%.

- The company wrote off 20 million inactive subscribers during the quarter that resulted in increase in MOU/subscribers.

- EBITDA margin improved 50 bps qoq. Headwinds continue for RCOM. Maintain 'hold' rating.

Source : Equity Bulls

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