The Supreme Court on January 21 agreed to hear the modification plea filed by telecom operators
The BSE Telecom index has fallen 41 percent so far this year. The sector has been battling issues of low tariffs, eroding profitability, and rising debt as a result of an aggressive pricing war started by Reliance Jio
According to Satish Gupta of astrostocktips, telecom stocks like Reliance Communications, Idea Cellular, Bharti Airtel and MTNL will get astrological support.
Major telcos and cable networks fell between 2 and 9 percent intraday after the company unveiled the JioPhone at its AGM.
The stock had closed almost 10 percent closer on March 20 and fell over 7 percent intraday on Tuesday. CLSA has maintained its sell call on the stock, while Motilal Oswal has upgraded the stock to a buy call.
While in any merger the two parties would ideally like to be equal partners, in a war zone there’s no bravado in leading from the front.
Feel that pricing wars may escalate, which usually does not create much shareholder value. They expect further bloodbath as well.
Brokerage houses, in most cases, reiterate buy call on the stock with improved target prices, citing better prospects for Jio and advantage in the data segment.
The market failed to hold 52-week high touched in early trade Thursday as the Nifty closed below 8900 on profit booking.
BHEL was biggest gainer among Sensex and Nifty stocks, up 6 percent followed by Bharti Airtel, Asian Paints, Adani Ports, M&M, Yes Bank and Hindalco while BPCL, Grasim, Coal India, Tech Mahindra, Bajaj Auto, NTPC, Hero Motocorp and ITC fell 1-5 percent.
Global investors await key speech from US President Donald Trump to the joint session of the Congress; chances are likely that the President announces tax cuts and infra spending decisions as well. Back home, investors will await cues for the key GDP data as well.
Sales of companies constituting the 50-share well-diversified NSE index are seen to grow 3 percent in the July-September quarter compared with the year-ago period, said the report brought out by leading brokerage Motilal Oswal.
Some of the stocks that should be on your radar are: Steel stocks, Telecom stocks, Bharat Forge, Tourism Finance Corp of India, Idea Cellular, Adani Transmission, Bank Of Baroda, AIA Engineering.
In what could be good news to mobile operators, the inter-ministerial panel Telecom Commission has backed lowering of spectrum usage charge to 3 percent of their annual revenue.
Stocks likely to be in the limelight are: DLF, GMR Infrastructure, NTPC, Bharat Forge, Yes Bank, Mahindra and Mahindra, Dish TV India., Telecom Stocks
Stocks that are likely to be in the focus today are: Cadila Healthcare, Biocon, Sugar Stocks, Telecom Stocks, Hexaware Technologies, Gokaldas Exports, Arshiya,Kirloskar Pneumatic Company, Narayana Hrudayalaya, Aditya Birla Nuvo, Kansai Nerolac Paints.
According to market expert Ambareesh Baliga, going forward one will see a time wise correction and one must avoid catching the falling knife. 2015 would be the year of wealth preservation, believes Baliga.
According to UR Bhat, MD, Dalton Capital Advisors the Fed taper too is likely to continue, so the only news that could turn the sentiment for India would be some positive newsflow on political front.
Dhruva Raj Chatterji, Morningstar Investment Management says equity mutual funds have seen continuous redemption pressures but there have been some changes in their sectoral outlook.
After touching the psychological 20,000 mark on the Sensex during early trade on Tuesday, the Nifty too crossed an important resistance level of 6050.
Hemant Thukral of Aditya Birla Money does not expect a big rally today. â€œSince majority of the rollovers are in place and the short covering has already been taken place, I do not expect big rally today.
Siddharth Bhamre, Angel Broking says that since we have gone significantly below 5630, we might continue to see a downward trajectory. â€œWe would be a bit negative on the market; we are expecting 5500 or probably below levels till 5450,â€ adds Bhamre.
Defying an overall weak stock market trend, telecom stocks today surged by as much as 5 per cent a day after the much-talked about 2G mobile phone spectrum auction virtually flopped.
Stock-analyst SP Tulsian of sptulsian.com explains to CNBC-TV18 that his bets for are Idea, SpiceJet and Deccan Chronicle. The analyst also adds that the IMG recommendation on deallocation would prevent misuse of resources and hasten power generation in the country.
Limited decline seen in telecom stocks, says Sudarshan Sukhani of s2analytics.com.