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from BUSINESS LINE, September 04, 2009 Chennai, Sept. 3 - The stock of Reliance Communications has been witnessing renewed buying interest in the last couple of days. The stock has jumped about 12 per cent since September 1, and closed on Thursday at Rs 290.7. The stock today gained over 5 per cent. Trading volumes also jumped to 55.12 lakh shares against the two week average of 23.18 lakh shares.
According to marketmen, the stock has been on the upswing after reports that the company is planning to raise Rs 5,000 crore through a public issue by its tower arm - Reliance Infratel.
An analyst who met the company management recently said Reliance Communications plans to …