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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Vodafone Idea (Vi), Bharti Airtel, and Reliance Industries Limited (RIL) stocks went down yesterday at the closing time despite performing well in the morning session. But on Thursday, at the time of writing, both the stocks are trading in the green. Vodafone Idea’s current stock price is Rs 8.15, which is 1.24% high, while Bharti Airtel is trading at Rs 675, which is 1.07% in the green. It is worth noting that both the indexes, including NIFTY and SENSEX, are in the red. Thus, watching telecom stocks do well is a positive for the sector.
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Why Are Vodafone Idea, Airtel Stocks Going Up?
Frankly, it is hard to say at the moment. There haven’t been any major announcements in the favour of the telcos, and neither have the telcos indicated they are about to do something. The general expectation from the telecom stocks for Thursday was negative because of what happened on Wednesday.
For the unaware, on Wednesday, the cabinet refused to hear the proposal from the Department of Telecommunications (DoT), which meant the telecom sector wasn’t going to get its relief package announced after all.
This led to investors worrying and pulling their money out of the telcos. It was particularly a major blow for Vodafone Idea, which anticipated an immediate relief from dues payments. Had the cabinet heard the proposal from the DoT, the stock price of the telcos might have gone even further up!
