Buy: RCOM with a target of Rs.650 in medium term

Thebullishtrends: RCOM share price closed on Monday at Rs.543.20(-Rs.29.10) After the Bharti Airtel now its turn to RCOM. Anil Dhirubhai Ambani Group has announced that it has entered into an exclusive negotiations with South Africa's major telecom operator MTN to discuss the further proceedings. RCOM and MTN has agreed to workout the merger plan within 45 days. Analysts are saying that if this deal successfully completed then it will be a great achievement in the wireless market than AT&T. RCOM is having stronger acquisition plans in several countries which will be worked out in the coming days. One can enter into RCOM counter at present levels with a target of Rs. 650 in medium term.