Telecom Stocks Outlook for the week – 15 to 19.02.2016
(Bharti
Airtel, Idea seen trading positive)
( www.rupeedesk.in )
After
weeks of decline, stocks of major telecom companies are seen
trading
positive in the coming week mainly on value buying. Stocks of
Bharti
Airtel Ltd, Reliance Communications Ltd and Idea Cellular Ltd
bounced
back during the week and are expected to be in the green next
week
as these shares have bottomed out and an uptick is on the cards.
The
telecom stocks had stabilised as compared to other stocks, some
value
buying was expected. However, others said that it was more of a
technical
pullback as there was no major news in the market to
substantiate
the bounce-back in the stocks of major telecom companies.
We
are expected that the scrip of country's largest telecom operator
Bharti
Airtel may trade in the range of 330-340 rupees in the coming
week.
Shares of Idea Cellular are expected to cross the 150-rupee mark.
The
stock has fallen over 35% in the last six months. But significant
movement
is expected in shares of Reliance Communications.
