Stay away from telecom space: Gautam Trivedi

Gautam Trivedi, MD & CEO of Religare Capital Markets told CNBC-TV18, "We have had a negative view on the telecom space which has played out for the most part but having seen some of these stocks rally, it is a little mystifying given how much they are having to pay for spectrum which they own anyway. So, a lot of these companies, I would not say Bharti Airtel but for some of the other companies the balance sheets are very stressed and the bidding war isn't even over yet."

"We haven't even seen Reliance launch which is going to be a massive game-changer in the telecom industry in a positive way. Not to mention their data penetration will significantly get the country rewired and all of the other stuff that goes with it. However, I would stay away from the listed telecom plays for the time being," he added.