A day after the Supreme Court verdict cancelling 122 2G telecom licences, most telecom stocks showed a muted performance on the Bombay Stock Exchange (BSE) on Friday.
Bharti Airtel rose 0.7% to
Rs. 386, against an increase of 7.0% on Thursday, while Idea Cellular, which had risen 2.7% on
Thursday lost 2.1% on Friday to end at
Rs. 94. Reliance Communication down by 3.3% to close at
Rs. 94.
“Things are still very uncertain because there is the possibility of the government filing a review, with the affected operators being a party and it’s unlikely that telecom stocks will see a sustained rally,” said Rahul Gupta, senior manager, Strategy Analytics.