Friday, July 8, 2011

Telecom stocks at 52 week high

Telecom stocks are back to life after being dead for almost 2 years. Amid all the 2G controversies and fear of intense competition, bigger players have emerged stronger and this is getting reflected in the prices of the stocks of bigger listed telecom players like Bharti and Idea. RCom being directly accused in 2G scam it has not been able to perform in line with the sector.

Idea cellular today touched Rs. 82.55 (52 week high) in intraday before closing at Rs. 81.35. Bharti Airtel touched an intraday high of Rs. 409.45 (52 week high) before closing at Rs. 398.10.
InvestorZclub has been bullish on the sector for quite some time now and has recommended both Bharti Airtel and Idea cellular for investment in past 2 months, while Rcom was being suggested by InvestorZclub as a stock to avoid in 2011. We continue to be bullish on Idea and bharti while bearish on RCOM.
Related articles and past recommendations in Telcom sector by InvestorZclub:

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