Caution, moderation are very important in this mkt: Experts

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Caution, moderation are very important in this mkt: Experts

N Jayakumar, CEO, Prime Securities said that the Indian fundamental story has played out in its grandest glory. According to him, the re-allocation of capital is going to be the story that will drive our markets to valuations way beyond even current levels.

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Q: Let me come to another sector which have been one of the pillars of this bull market telecom. Shankar you have been a little circumspect about it, and big pillars like Bharti and even RCom have started correcting. What do you see for the next one-year for this space, is the best behind them?

Sharma: No, we have not been just circumspect, we have been fairly negative on the sector for the last 5-6 months. And nothing that we see fundamentally compels us to change our view. We think that for the sector, its best days are behind it.

Telecom is ultimately a month's game, and you are going to put up a network at USD 80 a subscriber, then you are going to sign him up for lifetime free and then you expect the market to pay you. That subscriber, for the time that it stays in your network, will pay you like USD 100 a year, in ARPU maybe USD 80-90 a year, and the market is going to pay me USD 1000