Only three operators -- Reliance Jio, Bharti Airtel and state-run BSNL -- reported subscriber additions in the month, while eight other operators including Idea Cellular and Vodafone, saw a decline.
Sources tell CNBC-TV18 that American Tower Corporation (ATC) and Brookfield have emerged as front-runners to buy idea-Vodafone's tower assets.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy IGL and sell Union Bank and Idea Cellular.
This leads to the government losing out Rs12,229.24 crore as payment from spectrum usage charges and interest. These charges are computed by using telecom companies’ revenue as the base. On the basis of this report government has once again appointed special auditors to check irregularities in telecom company’s accounts.
Ashwani Gujral of ashwanigujral.com recommends selling Idea Cellular, Sun Pharma and Interglobe Aviation and advises buy Titan Company and UltraTech Cement.
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Sudarshan Sukhani of s2analytics.com is of the view that one can sell Glenmark Pharma and Idea Cellular and buy Titan Company and prefers Maruti Suzuki over Amtek Auto.
Telecom stocks are in focus as the market fears that the Telecom Regulatory Authority of India (TRAI) is actively considering a proposal to phase out interconnect usage charge (IUC). Vodafone group CEO Vittorio Colao has written a letter to the department of telecom saying, "We are seriously alarmed to see reports that the regulator is considering a reduction in MTC at a time when the industry is facing such immense hardships. The existing rate of 14 paisa is already below cost". In an interview to CNBC-TV18, Naveen Kulkarni, Co-Head of Research at PhillipCapital shared his readings and outlook on the same.
The issue dates back to May 2005 when the Department of Telecom (DoT) amended licences to permit inter-service area connectivity among telecom operators within four states -- Maharashtra, West Bengal, Tamil Nadu and Uttar Pradesh.
Total mobile customer base of five COAI members that include Aircel and Telenor declined by 37.74 lakh to 82.6 crore in July from 83 crore at the end of June.
Motilal Oswal is bullish on Idea Cellular has recommended buy rating on the stock with a target price of Rs 110 in its research report dated August 18, 2017.
Sudarshan Sukhani of s2analytics.com recommends buying Adani Ports, Ashok Leyland, Hindustan Petroleum Corporation and Bata India and advises shorting Idea Cellular.
Idea's move comes after the Securities and Exchange Board of India (Sebi) and exchanges gave their conditional nod to the proposed USD 23-billion merger deal that would create the country's largest telecom operator.
Earlier in the day, the company informed the exchanges that it filed an application before the National Company Law Tribunal, Ahmedabad Bench, for an approval of the merger of Vodafone India and Vodafone Mobile Services with the company.
Motilal Oswal is bullish on Idea Cellular has recommended Buy rating on the stock with a target price of Rs 110 in its research report dated July 28, 2017.
Edelweiss is bullish on Idea Cellular has recommended Hold rating on the stock with a target price of Rs 91 in its research report dated July 28, 2017
The Aditya Birla Group company, set to be merged with bigger rival Vodafone, made it clear that it will not subsidise handsets.
The company’s losses for the June quarter worsened to Rs 814.9 crore against a loss of Rs 327.7 crore in the previous quarter.
The total income for the firm was reported at Rs 8,181.7 crore, lower than the previous quarter’s figures of Rs 8,194.5 crore.
According to average of estimates of analysts polled by CNBC-TV18, revenue is seen falling 0.94 percent sequentially to Rs 8,050 crore in Q1 but the pace of degrowth is likely to moderate after 6-7 percent fall seen in Q3 and Q4FY17.
Ashwani Gujral of ashwanigujral.com recommends buying Apollo Tyres, Idea Cellular and Dewan Housing Finance.
The deal, announced in March this year, will create the country's largest mobile phone operator worth more than USD 23 billion with a 35 percent market share.
Telecom stocks like Idea Cellular, Bharti Airtel, MTNL and Tata Communications will get astrological support, says Satish Gupta of astrostocktips.
JIOPhone would be available for testing from 15-August-2017 and pre-booking of JioPhone will start from 24-August-2017.
The Comptroller and Auditor General (CAG), in its latest report tabled in Parliament today, said its audit indicated "total understatement of adjusted gross revenue (AGR) of Rs 61,064.56 crore" by six operators.