The BSE telecom index was trading in the green, up 0.62 percent at 1661.23 with Bharti Airtel marginally down 0.25 percent while Idea Cellular was trading in the green, up 0.18 percent at Rs 109 per share.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Reliance Industries, Torrent Power and Strides Shasun and can sell Union Bank of India.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Escorts, Indiabulls Housing and NCC while he advises holding SBI and selling Pincon Spirit and Mindtree.
There are hopes that at some point in time Jio will rationalise its tariffs but if this continues, then they would have to revise their outlook back to negative, said Nitin Soni of Fitch Ratings.
The market breadth was in favour of the advances on Friday afternoon with 1042 stocks advancing as against 653 declines while 307 remained unchanged. On the other hand, 1721 stocks advanced and 1098 stocks declined while 138 remained unchanged on the BSE.
The market breadth was in favour of the advances on Friday morning with 1175 stocks advancing as against 476 declines while 350 remained unchanged. On the other hand, 1745 stocks advanced and 763 stocks declined while 107 remained unchanged on the BSE.
Motilal Oswal is bullish on Idea Cellular has recommended buy rating on the stock with a target price of Rs 120 in its research report dated January 04, 2018.
Idea Cellular Board forms a panel to evaluate potential routes for raising further capital of up to Rs 3,500 crore.
After this preferential issue, the shareholding of promoter group in Idea will increase to around 47.2 percent from existing level of around 42.4 percent.
JM Financial recommended hold rating on Idea Cellular with a target price of Rs 110 in its research report dated January 02, 2018.
The competition forced market consolidation as nervous, smaller players bailed out and biggies joined hands to cement their position. Consolidation led to fewer players and fewer jobs.
In what could be considered a landmark year for the telecom sector in India, 2017 saw telcos consolidate like never before. By the end of the year, there were only three major players left in the market.
As per the agreement between the two telcos, Aditya Birla Group chairman Kumar Mangalam Birla will be the chairman of the merged entity, while the CFO will be a Vodafone nominee.
Bharti Airtel's mobile tower arm Bharti Infratel and Vodafone hold 42 per cent each in India's largest mobile tower firm Indus Towers and the rest is held by Idea Cellular.
The company had reported a net profit of Rs 91.5 crore in July-September a year ago.
The company's in its filing with the stock exchange said that the Vodafone and Idea Cellular Limited separately agreed to sell their tower businesses to ATC for an aggregate sum of Rs 7,850 crore.
American Tower Corporation is a US-based company founded in 1995 with operations in 15 countries across the globe.
The stock jumped 5.91 percent to end at Rs 78.90 on BSE. During the day, it soared 8 percent to Rs 80.50.
The deal gives Vodafone India an implied enterprise value of Rs 82,800 crore and Idea Rs 72,200 crore.
Over 99 per cent of Idea shareholders voted in favour of the merger at the shareholders' meeting on October 12, 2017, the filing by the Aditya Birla group firm stated today.
Net Sales are expected to decrease by 6 percent Q-o-Q (down 17.5 percent Y-o-Y) to Rs. 7670.4 crore, according to ICICI Securities.
Idea Cellular topped the chart in terms of average 4G upload speed for September at 6.307 mbps, the private telecom player said in a statement reeling off the Trai data.
Ashwani Gujral of ashwanigujral.com recommends selling Adani Enterprises, HCC and Idea Cellular.
On the timeline for completion of the merger, he said it will happen by 2018. Earlier this year, Vodafone India and Idea Cellular had agreed to merge their operations to create the country's largest telecom operator worth of more than USD 23 billion with a 35 per cent market share.
Ashwani Gujral of ashwanigujral.com suggests buying Yes Bank and Titan Company and feels that Motherson Sumi Systems is likely to test Rs 400-420.