Money on the markets
A maturing market amid the mayhem
Shares of major telecom players plunged on Thursday, pulling the BSE Technology Index down 2.8 percent.
The other stocks that took a hit included Reliance Communications (down 6 percent), Idea (down 2.2 percent) and MTNL which dropped 1.08 percent.
Fear of survival and reduced profits loom for GSM operators as new entrants could spark a price war which in turn could squeeze the margins of top players.