Kotak Mutual Fund positive on telecom space

Harsha Upadhyaya, Head of Equities at Kotak Mutual Fund is positive on the telecom sector. According to him, pricing power has returned to the industry and the competition intensity has lessened considerably.

Upadhyaya told CNBC-TV18, "Overall for the telecom sector we are quite positive. We believe that we are seeing first signs of benefits of consolidation. There seems to be pricing power which has returned to the industry, the competition intensity has lessened considerably."
He further added, "However, it is difficult to take a call on Bharti Airtel because it also has Africa operations where things are not as rosy as what we are seeing for Indian operations. Nevertheless India telecom operations for everyone seem to be turning around and we are quite positive on that."