look news india
Telecom Stocks: Telecom companies are expecting relief from the government. Foreign brokerage firm UBS believes that investing in the shares of telecom companies can benefit it. Brokerage firms have increased their target price on telecom giants like Bharti Airtel, Voda Idea and Indus Towers in anticipation of government relief. Talking about today, all three of these stocks are in the green zone. Shares of Indus Towers rose 1.65 percent to Rs 444.60, Airtel rose 0.55 percent to Rs 1530.80 and Voda Idea rose 0.38 percent to Rs 16.06.
Now what is the target of Airtel, Voda Idea and Indus Towers?
UBS has maintained neutral rating on Airtel but raised the target price to Rs 1595 from Rs 1530. Indus Towers also has a neutral rating but raised the target price to Rs 440 from Rs 405. The brokerage firm has once again given a buy rating to Voda Idea and raised the target price to Rs 19 from Rs 18.
Know why UBS increased the target?
Telecom companies have increased tariffs and according to UBS, this increase will have a 60-75 percent impact on revenue in the third quarter. For Voda Idea, which is facing serious financial difficulties, the government has made it clear that there are no plans to sell it at the moment and a decision will be taken on this when its operational condition improves. Money Control sources have given this information. It has also come to light that the government is also considering the recommendation to waive bank guarantees on Rs 27,747 crore.
