Telecom Stocks Outlook for the week – 07 to 10.10.2014
( www.rupeedesk.in )
( www.rupeedesk.in )
Stocks of major telecommunication service providers are seen trading in a
narrow range in the week ahead as there are no stocks or industry-specific triggers on the horizon.
Stocks of Bharti Airtel and Idea Cellular are seen trading with a positive bias this week, while
those of Reliance Communications are likely to continue trading with a negative bias.
Telecom stocks have been trading in line with broader markets over the past few
weeks and this is likely to remain so this week also. There are no stock or industry triggers
on the horizon, which is seen leading to this movement trend. Telecom companies' ability to
service debt, especially in a highly competitive market like India, is under question from
investors. Over the past week, the broader markets have remained more or less flat, and so have
counters of some key telecom companies.
Wednesday the broader markets saw some correction amid low volumes as investors
stayed on the side-lines ahead of the five-day long break. Investors opted for a cautious
approach ahead of the long break starting Thursday through Tuesday, when markets will remain
closed on account of various public holidays.
