Telecom Stocks Outlook for the week – 20 to 24.04.2015
( www.rupeedesk.in )
Stocks
of telecom companies are expected to track the broader indices next week due to
lack of sector-specific triggers. There are no sectoral triggers next week, and
the shares will most
likely
trade on the basis of Nifty. We see the Nifty under pressure next week, and
expect the 50-share index to trade in a range of 8400 and 8750 points next week.
The could indulge in some anticipatory trading
in shares of Bharti Airtel and Idea Cellular, which will report their Jan-Mar
earnings on Apr 28. Industry leader Bharti Airtel is seen reporting a 5%
sequential growth in net profit for the quarter ended March with strong
subscriber growth in the domestic market raising voice and data volume. Shares
of Reliance Communications, on the other hand, is seen trading down next week
on profit booking, after they gained some momentum in the weeks succeeding the
spectrum auction.
