Bharti Airtel, the second-largest telecom operator in the country, saw its stock closing on a greener note on Friday. This means that the stock had a positive movement. For Vodafone Idea's (Vi) stock, there was no movement at all. Vi's stock was trading in the green before the close. Airtel's stock closed at Rs 703.65 (1.35% up). Finally, Airtel's stock has crossed the Rs 700 price point again. Vodafone Idea's stock closed at Rs 8.75, which meant no negative nor any positive. While the stock moved throughout the day, at the closing, the result was the same as Thursday's closing. Vi shareholders will take this in a heartbeat over the stock drilling down newer bottoms.
Airtel's stock has been the pick of the analysts because of the growth opportunities and the potential. Vi's stock has not been recommended because of the telco's poor performance for the last few years. Reliance Industries Limited (RIL) closed at Rs 2534, which was 1.47% in the red. For the unaware, RIL is the parent company of Jio Platforms which holds Reliance Jio, India's number one telco.
Jio to Soon go for IPO
Jio is soon expected to go for IPO (Initial Public Offering). Then there will be three separate telecom players listed on the stock market. Reliance Industries Limited will focus more on the green energy business. Jio will be headed by Mukesh Ambani's son, Akash Ambani, who has proved his worth in becoming the chairman of the telco.
Vodafone Idea's stock had shown great performance before the financial results were announced. Vi's customer base is declining pretty fast, and the telco's VLR subscribers might go under 200 million in a matter of a few quarters. But there's one thing that's always consistent with Vi's stock - it is the volatility. There are a lot of pump and dumps associated with Vi's stock as it is pretty affordable.
