Telecom
Stocks Outlook for the week – 02 to 06.05.2016
In range with positive bias next week
( www.rupeedesk.in )
Stocks of telecom service providers
are seen moving in a narrow range over the next week with an
upward bias. Bharti Airtel Ltd's
robust March quarter earnings announced Wednesday have buoyed
investor sentiment for telecom
shares. The country's largest telecom services operator impressed the market
with 15.5% sequential rise in Jan-Mar consolidated net profit and handsome
operating
margins at 36.8%. Stocks of Idea
Cellular, which fell as much as 8.8% yesterday before ending down 6.3% at
118.55 rupees, may bounce back in the next week. The stock fell even though the
Aditya Birla Group company reported better-than-expected numbers, on concerns
over risk of rising debt as increased competition is forcing the company to
accelerate 4G rollout obligations.
