Vi, Airtel, and Jio Stocks Crash on Monday

This is the kind of time that investors are really looking for to invest their money for long-term in the market as such market crashes allow averaging. Telecom sector is in the recovery mode already with the Indian government announcing relief measures for the private operators and is also helping Bharat Sanchar Nigam Limited (BSNL) to rollout 4G.

Highlights

  • Vodafone Idea (listed as Idea in stock markets), Bharti Airtel (listed as Bhartiartl) and Reliance Industries Limited (parent company of Reliance Jio) stocks are going through a rough morning.
  • Once trading above the Rs 700 levels for a continuous period, on Monday, Bharti Airtel is trading at Rs 650.25 (0.63% down from previous close) at the time of writing.
  • Vodafone Idea’s board recently approved a Rs 14,500 crore raise via promoters and external investors.

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Vodafone Idea Idea Jio Stock Market

Vodafone Idea (listed as Idea in stock markets), Bharti Airtel (listed as Bhartiartl) and Reliance Industries Limited (parent company of Reliance Jio) stocks are going through a rough morning. All the telecom stocks are in the red, including Tata Teleservices and Tejas Networks. It is not just the telecom stocks, but also NIFTY 50 and SENSEX are in the red because of the increasing war activity in Ukraine. Globally, markets and trade have been affected due to the war between Russia and Ukraine. The market fall is expected to continue further.

Bharti Airtel Trading Below Rs 650

Once trading above the Rs 700 levels for a continuous period, on Monday, Bharti Airtel is trading at Rs 650.25 (0.63% down from the previous close) at the time of writing. Vodafone Idea is trading 3.86% down at Rs 9.95, while RIL is trading at Rs 2263.15, which is 2.60% in the red.

Vodafone Idea and Bharti Airtel investors should know that the Department of Telecommunications (DoT) might return Rs 23,000 crore to both the telcos in bank guarantees (BGs) kept against adjusted gross revenue (AGR) dues payments.

Further, the market is expected to recover once things settle between Ukraine and Russia. But no one really knows when it will happen.

Vodafone Idea’s board recently approved a Rs 14,500 crore raise via promoters and external investors.

The stock market crash has almost affected each and every company, with major banks, airlines, FMCG companies and more opening in the red.

This is the kind of time that investors are really looking for to invest their money for long-term in the market as such market crashes allow averaging. The Telecom sector is in recovery mode already with the Indian government announcing relief measures for the private operators and is also helping Bharat Sanchar Nigam Limited (BSNL) to roll out 4G. The future of telecom stocks looks bright, with more and more companies trying to access digital infrastructure for scaling business online.

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Tanay is someone with whom you can chill and talk about technology and life. A fitness enthusiast and cricketer, he loves to read and write.

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