Reliance Communications gains on stake buy reports
A report said the deal could involve Reliance Industries' unit Reliance Infotel buying a stake in Reliance Communications' unit Reliance Infratel, citing two people close to the negotiations.
It also said talks involved a leasing arrangement between the two units.
Reliance Communications shares had slumped 9.14 percent on Thursday after posting a sharper-than-expected fall in its October-December quarter.
Shares in Reliance Communications were up 2.9 percent as of 0403 GMT. Reliance Industries shares were down 0.8 percent.
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