Money on the markets

A maturing market amid the mayhem

Idea Cellular down on weak Q2 results

Photo
-

TELECOMS INDIA BHARTI

Shares of Idea Cellular fell nearly 4 percent after the company’s quarterly net profit slipped to 1.80 billion rupees from 2.20 billion rupees a year ago.

Idea Cellular lagged market estimates as quarterly profit fell on lower call prices, but the firm said improving economic conditions and 3G services would boost revenue in future quarters.

Shares in the company closed 3 percent lower at 69.65 rupees.

Idea has managed to keep its investors happy, posting returns of over 20 percent for the year. Do you think it is the right time to invest in this counter?

Idea Cellular gains on Etisalat interest

Photo
-

VIRGIN-TATATELESERVICES/Idea Cellular rose nearly 4 percent after Emirates Telecommunication Corp, the Arab world’s second-largest telecom operator by market value, said it had not ruled out investing in the company.

However, the Abu Dhabi-based operator said that it does not expect a deal with Reliance Communications in 2010.

Reliance Communication
is the only major local cellular carrier without a foreign strategic investor in the world’s fastest-growing mobile market.

Bharti Airtel shares jump

Photo
-

Shares in Bharti Airtel, India’s leading telecom firm, gained 3 .4 percent on Wednesday and ended as the top Sensex gainer, even as the overall Mumbai market closed weak.

Other players like Reliance Communications and Idea Cellular managed to close in green as well.

Telecom stocks struggle, Bharti falls nearly 4.5 pct

Photo
-

Telecom stocks started the week on a disappointing note, with Bharti Airtel slipping 4.4 percent and Reliance Comm ending down over 1 percent.

Bharti Airtel was also the top Sensex loser. Smaller competitor Idea Cellular closed 2.85 percent lower.

Telecom shares dives in flat market

Photo
-

Shares of major telecom players plunged on Thursday, pulling the BSE Technology Index down 2.8 percent.

Bharti Airtel, which has a 3.6 percent weightage on the Sensex, dropped over 6 percent in a market that ended marginally up at 16,843. Trade in the counter stood at 8.1 million shares.INDIA-STOCKS/JUMP

Telecom stocks plunge

Photo
-

MTN-BHARTI/Telecom stocks were in focus on Tuesday with several of them posting sharp falls, even as the Sensex recovered over 300 points to close nearly 100 points higher.

Market participants are worried that lower tariffs and increasing competition could hurt profitability of such firms. On Monday, Reliance Communications cut call charges across all networks to 50 paise/min.

  •