Telecom Stocks Outlook for the week – 04 to 08.08.2014
( www.rupeedesk.in )
( www.rupeedesk.in )
Taking cues from their positive
quarterly numbers, shares of leading telecom companies
Bharti Airtel and Idea Cellular
are expected to move to an upward trajectory next week.
Stocks of other telecom firms are
also expected to reflect the positive mood and trade
upward. Besides the quarterly
numbers, reports of a tentative tariff hike is also seen as a
positive trigger as
rationalization of discounts will help mobile operators to further
increase the average revenue per
minute. According to a media report, the telecom
regulator has said mobile call
rates may be raised by 8-9%.
We are bullish on Bharti Airtel.
After trading in the 375 rupees levels, the stocks had a
fresh breakout at 380 rupees. We
expect Bharti Airtel to trade at 410-420-rupee levels
next week.
Bharti Airtel reported a 61% on
year jump in its June quarter net profit at 11.1 bln rupees
on Tuesday. The company beat the
market estimate and reported a topline of 229.61 bln rupees
