Telecom stocks look unattractive: Malkani

Jagdish Malkani, Member NSE/ BSE is of the view that the telecom sector has become relatively unattractive.

Malkani told CNBC-TV18, “I would not take as gloomy a view. I think the sector has become relatively unattractive thanks to all the unfortunate macro imbroglio and the mess that was created post-2G, intervention by Supreme Court and ham-handed spectrum sell, all the usual stuff, added to which Bharti Airtel did came with this huge African foray which is taking its own sweet time to come on-stream. So having said that the overall space let us not get away from the fact that the mobile space is one of the great stories of India in recent times and Bharti leads from the front in that. In this whole FDI opening up etc. that the government is now doing in a big way you could have more consolidation, more foreign play in which case Bharti would be a great acquisition target or whatever, but having said all that I would tend to agree that on a plain piece of paper there are other more attractive stocks and sectors. In the telecom space if at all I would be buying Bharti at lower levels.”