AK Prabhakar of IDBI Capital told CNBC-TV18, "In telecom one more auction is coming, so I think the pressure will be there. It depends on the auction progress. If the bidding is going to be aggressive then Idea Cellular can correct little bit from here. However, if the auction is mediocre then I think the worst for the telecom is over and I expect the rally. It is very difficult at this point to say something. So, I think once the auction is over then you will get a better feel. For the time being hold on to the stock.""Major downside is not there from here and once the stability comes in this stock you can average also. I am very positive from long-term perspective because there has been good consolidation in this space and over a period of time may be Idea also can look at consolidating with some other company or they may take over some other company. Now the consolidation process in telecom can be a re-rating, but you need to have some more time in your side to hold on the stock," he added.
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