Sandeep Shah of Sampriti Capital said the market appears to have already factored in the winners and the losers post the 2G verdict. "All the investments that these telecom companies made will now be in jeopardy," he said. Suppliers, vendors etc who may or may not have circumvented the law were likely to take a hit as well, he added.
For GV Giri of IIFL though, the incumbent telecoms are the winners while the losers are the ones like Idea, Tata Tele, Videocon and Unitech whose licenses got cancelled.
Will Verdict Bring Telco Players Back?
Among the telecom firms, 11 companies have been severely affected. Foreign telecom players cannot afford to overlook India. While the appetite for the 3G auction was huge, analysts are pondering whether a new 2G spectrum auction will get players participating again. Note that Docomo and Uninor already have their presence felt in India.
Giri says from those whose licenses were cancelled, the only serious competitors were Uninor and Sistema on a pan India basis. The nine circles of Idea were marginal to their overall operations but Uninor and Sistema certainly will come back.