Ashu Madan, President, Core Client Group of Religare Securities Ltd told CNBC-TV18, "The overall long-term basis telecom is not a very healthy space to be. Overall, the space would underperform with an exception of Idea, which has come up with an exceptional result and has beaten the street estimates."
He further added, "In Bharti Airtel the trend is not positive, it is underperformance. Very narrow kind of a range if you have seen in the past, not affected by all kinds of market movements. Fundamentally also, if one looks at the South African business, under pressure, so overall the competition is eating into the space of Bharti. I am not too gung-ho about even if the telecom space perform, that Bharti would be an underperformer."
"Having said that at the same time, I would not say that it is immediately breaking down, so, it is in a very narrow range of Rs 285-305-310. It continues to hover around that,"
"So, the idea is one has to be into that stock, which can give you inline with the market some good returns. So probably with some kind of an upmove we might see a level of Rs 303 plus or around Rs 305. So, one should ideally get out at these levels. I would not suggest to book a loss, but not an ideal stock to hold it for a one-year perspective also," Also Read: TRAI to allow conditional free mobile roaming
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
