RCOM added 3.4 million subscribers in February 2009, maintaining the lead in monthly net new subscribers post its GSM launch in January 2009. February additions indicate strong momentum for RCOM . The GSM launch had seen a huge surge in the subscribers over the last two months and this is expected to continue in the coming months. Also, the MNP implementation also should help the company although it may take some time to be launched.
This is expected in CY09 will open up the GSM post-paid market for new GSM operators like RCOM.
The valuation of the scrip now is very attractive now. The scrip is down by over 70% in the last one year. RCOM is currently trading at 20-40% discount to Bharti.
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