Given the adverse situation for VIL, Reliance Jio and Bharti could gain disproportionately, says Motilal Oswal.
After the launch of Reliance Jio in 2016, the biggies of the telecom sector lost not only their revenue, but also a huge chunk of their customer base
The benchmark indices continued their rally for the sixth consecutive session on November 1, with Sensex touched a fresh all-time high of 40,392.22.
With several investments expected in the sector in the coming months and the competition becoming steeper, the telecom companies should be witnessing several big moves in the coming time period
Mitessh Thakkar of mitesshthakkar.com recommends buying Bajaj Finance above Rs 2785 with stop loss of Rs 2764 and target of Rs 2840, Vodafone Idea above Rs 33 with stop loss of Rs 32.5 and target of Rs 35 and Petronet LNG with a stop loss of Rs 228 and target of Rs 245.
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
Positional traders are advised to adopt a two-pronged strategy of buying now and on declines between Rs 40-38 levels for an initial target of Rs 49.
Rajesh Agarwal of AUM Capital recommends buying Bank of Baroda with stop loss at Rs 110 and target of Rs 122, Ajanta Pharma with stop loss at Rs 1090 and target of Rs 1160 and Siemens with stop loss at Rs 952 and target of Rs 1015.
Mitessh Thakkar of mitesshthakkar.com suggests buying Axis Bank with a stop loss of Rs 617 and target of Rs 645, Colagate Palmolive with a stop loss of Rs 1114 and target of Rs 1160 and IRB Infra above Rs 145 with stop loss of Rs 141.5 and target of Rs 154.
Ashwani Gujral of ashwanigujral.com suggests buying Apollo Hospitals with a stop loss of Rs 1120, target of Rs 1160 and Colgate Palmolive with a stop loss of Rs 1110, target of Rs 1155.
Mitessh Thakkar of mitesshthakkar.com suggests buying Reliance Industries with a stop loss of Rs 1239 and target of Rs 1282 and Bata India with a stop loss of Rs 974 and target of Rs 1000 while he advises selling CESC with a stop loss of Rs 891 and target of Rs 840.
Mitessh Thakkar of mitesshthakkar.com suggests buying Balrampur Chini with a stop loss of Rs 76 and target of Rs 81, Bosch with a stop loss of Rs 20,900 and target of Rs 22,000 and Cadila Heathcare with a stop loss of Rs 412 and target of Rs 445.
Sudarshan Sukhani of s2analytics.com suggests buying Vedanta with a stop loss at Rs 225 and target of Rs 236, United Breweries with a stop loss at Rs 1300 and target of Rs 1360 and Divis Laboratories with a stop loss at Rs 1260 and target of Rs 1320.
Duggad is currently bearish on Idea Cellular, Bharat Heavy Electricals and Tata Power.
Rajesh Agarwal of AUM Capital recommends buying Adani Enterprises with stop loss at Rs 192 and target of Rs 205, Venkys with stop loss at Rs 2618 and target of Rs 2820 and Jet Airways with stop loss at Rs 319 and target of Rs 350.
In the Friday's trading session Nifty hit a record high of 11,283.40 and Sensex touched a record high at 37,368.62.
Gaurav Ratnaparkhi of Sharekhan said if the bulls manage to cross that region then one can look at significantly higher levels
Rajesh Agarwal of AUM Capital recommends buying Cipla with stop loss at Rs 530 and target at Rs 556, Bharat Petroleum Corporation with stop loss at Rs 395 and target at Rs 418 and a buy also in Tata Global Beverage with stop loss at Rs 255 and target of Rs 275.
"We do not rule out market share loss in the next few quarters but also expect recovery in FY20. With positive news flow, reduction in losses, we can expect a target of Rs 90 by FY19 end," says Akash Jain, Vice-president, Equity Research at Ajcon Global Services.
Global brokerage house Citi expects double digit growth for current financial year (FY19) but with some downgrade risks.
Sandeep Wagle of powermywealth.com is of the view that one can buy Maruti Suzuki and can sell National Aluminium Company.
After the recent correction, valuations of Indian market have come down to a reasonable level which should give motivation to investors to accumulate quality stocks on declines.
Jay Thakkar of Anand Rathi Securities is of the view that oen may buy NIIT Tech with a target of Rs 912.
Jay Thakkar of Anand Rathi Securities is of the view that one may buy Container Corporation with a target of Rs 1386.
If Nifty see a close below 10350 in next few days then we may be going in for a deeper correction where price may see a downside move to 10100 - 9900.