Telecom Stocks Outlook For The Week – 05 to 09.02.2018
Introduction of long-term capital gains tax on equities along with the weak financials of telecom companies are likely to keep the sector's stocks under pressure next week as well. Idea Cellular and Reliance Communications both posted losses for the December quarter, while Bharti Airtel reported an 11% sequential decline in its Seen taking cues from broader market next week SWING RANGE (BSE BASICMAT) SUPPORT: 3400/3345 RESISTANCE: 3480/3545 STOCKS TO WATCH ACC, ULTRACEMCO, RAMCOCEM, AMBUJACEM consolidated net profit. The weak financials and continuing pressure on tariff due to cutthroat competition, led by Reliance Jio Infocomm, may make investors jittery about the sector. Next week, the broader market is seen extending its decline and may be volatile. The Reserve Bank of India's monetary policy on Wednesday will be eyed.
Source : Cogencis Information Services Ltd.
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Introduction of long-term capital gains tax on equities along with the weak financials of telecom companies are likely to keep the sector's stocks under pressure next week as well. Idea Cellular and Reliance Communications both posted losses for the December quarter, while Bharti Airtel reported an 11% sequential decline in its Seen taking cues from broader market next week SWING RANGE (BSE BASICMAT) SUPPORT: 3400/3345 RESISTANCE: 3480/3545 STOCKS TO WATCH ACC, ULTRACEMCO, RAMCOCEM, AMBUJACEM consolidated net profit. The weak financials and continuing pressure on tariff due to cutthroat competition, led by Reliance Jio Infocomm, may make investors jittery about the sector. Next week, the broader market is seen extending its decline and may be volatile. The Reserve Bank of India's monetary policy on Wednesday will be eyed.
Source : Cogencis Information Services Ltd.
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