Moneycontrol
Mar 21, 2017 03:18 PM IST | Source: CNBC-TV18

Exit Idea Cellular, says Rajat Bose

Rajat Bose of rajatkbose.com is of the view that one may exit Idea Cellular.

 

Rajat Bose of rajatkbose.com told CNBC-TV18, "Idea Cellular’s 200-day exponential moving average has been breached but 200-day simple moving average is around Rs 90. So below Rs 90 you should not stay put. As far as I am concerned, I take a dim view on all of the telecom stocks; Reliance Industries not included because it has got other businesses there. However, telecom stocks, if you study them, you will find that none of them have made money for the investors over the long-term. So, even for that matter the best stock in that space, Bharti Airtel, it has been flat for the last seven to eight years just like Reliance has been until recently."

"I would say that there are industries that are easier to understand and they actually provide better growth prospects. Telecom is a cash guzzler just as airlines are, so, I don’t invest in them," he added.
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