Parag Thakkar of HDFC Securities told CNBC-TV18, "I always say this, whenever there is convergence of negatives, bottoms are made. So, same situation in telecom. With Jio coming in, spectrum auctions coming in altogether, so debt going to very high levels, whatever worst can happen has happened to telecom sector."
"Idea Cellular is planning to sell its tower business. Bharti Airtel if it decide to sell some stake in Bharti Infratel which is Rs 68,000 crore market cap company and annuity business where private equity (PE) funds will be more than happy to buy that stake. Bharti Airtel owns 71 percent stake in that; in my view bottom is very near. I think it must be already made now. So, I am positive on this particular sector. In fact I said that ignored value stocks, whether it is Reliance, Tata Motors or whether it is Bharti Airtel that is a space to be in now," he added.