www.rupeedesk.in
Telecom stocks are expected to continue their uptrend next week as the broad market is
expected to hit lifetime high in the coming sessions if the pre-election rally
continues. Yesterday, National Stock Exchange's 50-share Nifty ended at record closing
high at 6526.65 points, up 125.50 points or 2% from close Thursday. S&P BSE 30-share
Sensex, too, ended at lifetime closing high of 21919.79 points, up 405.92 points or
1.9%. Major telecom stocks ended the week gaining 5% from their closing price last
week. Rating agency Standard and Poor's Thursday said that it has raised its long-term
corporate credit rating on Bharti Airtel to 'BBB-' from 'BB+' with a stable outlook, further
pushing the stocks of the company.
Idea Cellular is expected to trail its peer Bharti Airtel and make gains next week. The
stock has seen sharp correction post the completion of the spectrum auction last month on
investors' concern over its debt position. Idea Cellular spends about 107 bln rupees for
acquiring additional spectrum.
Trend for Reliance Communications is seen weak in the medium term but the stock is
expected to tag along with its peers and make gains next week. Bharti Airtel's tower
subsidiary Bharti Infratel recorded gains of 14.2% at the end of the week aided by sealing
of a tower infrastructure sharing pact with Reliance Jio Infocomm earlier in the
week. Morgan Stanley Research estimates that the company's tenancy ratio will rise to
2.15 by 2017 as against 1.95 currently. However, further gains in the stock are seen
limited and is expected to trade bearish to sideways in the coming sessions
Telecom stocks are expected to continue their uptrend next week as the broad market is
expected to hit lifetime high in the coming sessions if the pre-election rally
continues. Yesterday, National Stock Exchange's 50-share Nifty ended at record closing
high at 6526.65 points, up 125.50 points or 2% from close Thursday. S&P BSE 30-share
Sensex, too, ended at lifetime closing high of 21919.79 points, up 405.92 points or
1.9%. Major telecom stocks ended the week gaining 5% from their closing price last
week. Rating agency Standard and Poor's Thursday said that it has raised its long-term
corporate credit rating on Bharti Airtel to 'BBB-' from 'BB+' with a stable outlook, further
pushing the stocks of the company.
Idea Cellular is expected to trail its peer Bharti Airtel and make gains next week. The
stock has seen sharp correction post the completion of the spectrum auction last month on
investors' concern over its debt position. Idea Cellular spends about 107 bln rupees for
acquiring additional spectrum.
Trend for Reliance Communications is seen weak in the medium term but the stock is
expected to tag along with its peers and make gains next week. Bharti Airtel's tower
subsidiary Bharti Infratel recorded gains of 14.2% at the end of the week aided by sealing
of a tower infrastructure sharing pact with Reliance Jio Infocomm earlier in the
week. Morgan Stanley Research estimates that the company's tenancy ratio will rise to
2.15 by 2017 as against 1.95 currently. However, further gains in the stock are seen
limited and is expected to trade bearish to sideways in the coming sessions
