Telecom Stocks Outlook For The Week - 22 To 26.10.2018
Earnings of Bharti Airtel Ltd for Jul-Sep, due to be announced on Thursday, is likely to be the major trigger for telecom stocks next week, and commentary from the company's management is expected to be keenly watched. The Sunil Mittal-led company is expected to post a consolidated net profit of 6.94 bln rupees for Jul-Sep due to increasing losses in its India mobile operations. Another major trigger for telecom companies will be the three-day India Mobile Congress starting Thursday, and any news from the event is likely to act as the trigger. Investors will await announcements from new entrant Reliance Jio Infocomm about its fibre-to-the-home broadband services. The service, under the brand-name 'JioGigaFiber', is expected to get a boost after parent Reliance Industries announced the acquisition of majority stake in local cable operators Den Networks Ltd and Hathway Cable & Datacom Ltd. Movement in the broader market is also expected to lend cues to telecom stocks. Benchmark indices are expected to be volatile on account of earnings of key companies and the expiry of the October derivatives contract on Thursday.
Source : Cogencis Information Services Ltd.
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Earnings of Bharti Airtel Ltd for Jul-Sep, due to be announced on Thursday, is likely to be the major trigger for telecom stocks next week, and commentary from the company's management is expected to be keenly watched. The Sunil Mittal-led company is expected to post a consolidated net profit of 6.94 bln rupees for Jul-Sep due to increasing losses in its India mobile operations. Another major trigger for telecom companies will be the three-day India Mobile Congress starting Thursday, and any news from the event is likely to act as the trigger. Investors will await announcements from new entrant Reliance Jio Infocomm about its fibre-to-the-home broadband services. The service, under the brand-name 'JioGigaFiber', is expected to get a boost after parent Reliance Industries announced the acquisition of majority stake in local cable operators Den Networks Ltd and Hathway Cable & Datacom Ltd. Movement in the broader market is also expected to lend cues to telecom stocks. Benchmark indices are expected to be volatile on account of earnings of key companies and the expiry of the October derivatives contract on Thursday.
Source : Cogencis Information Services Ltd.
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