power your trade has given a positive for RCOM in stock signs section with the heading "GSM launch plan on track; to invest Rs 40,000-50,000 Cr in FY09: Anil Ambani".

how the market takes it will be clear tomorrow.
some hammering possible considering what happened to reliance.



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NEW DELHI, July 31 (Reuters) - Reliance Communications (RLCM.BO: Quote, Profile, Research), India's No. 2 mobile operator, on Thursday reported a 23.8 percent rise in quarterly profit, almost in line with expectations, on higher subscriber additions in the world's fastest-growing wireless market.

Reliance Communications, whose tie-up talks with South Africa's MTN (MTNJ.J: Quote, Profile, Research) to create a global top-10 telecoms firm failed earlier this month, said net profit rose to 15.12 billion rupees ($355 million) for its fiscal first quarter ended June, from 12.21 billion reported in the year-ago quarter.

Revenue rose to 53.22 billion rupees from 43.04 billion reported a year earlier.

Analysts expected a net profit of 15.16 billion rupees on revenue of 57.61 billion for the firm, which added 5 million mobile users during the quarter to have nearly 51 million users at end-June.

Last week, Reliance's larger rival Bharti Airtel (BRTI.BO: Quote, Profile, Research) reported a forecast-beating 34 percent rise in June quarter profit. ($1=42.6 rupees) (Reporting by Devidutta Tripathy, Editing by Mark Williams)
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No one is always right. Joetom is usually right. Dont criticize senior boarders hiding behind guest ID.

Deven...

Here it comes. In US, the economists are already saying falling oil prices no longer matter since the economy is headed for a nasty recession and no one will have any money to drive cars anyways. Let\\`s wait for a few US banks to fail before we start talking of a recovery. Nifty @4000. Looks like it\\`s coming......