Telecom Stocks Outlook for the week (04-08.06.2012)
Stocks of major telecom operators will eye the upcoming meeting of the Empowered Group Of Ministers, which is likely to take a decision on the final set of recommendations on spectrum auction norms. The meeting is slated for Tuesday. The Telecom Commission, in its meet on May 26, had kept the spectrum reserve price, recommended by the Telecom Regulatory Authority of India, unchanged and has asked the regulator to submit an analysis of the impact of the proposal on tariffs.
TRAI will submit a circle-wise impact assessment of the base price on tariffs. TRAI's analysis report, along with the final set of recommendations by the telecom department, will be presented before the ministers' panel. The National Stock Exchange 50-stock Nifty is expected to trade in the range of 4800-5000, with a negative bias on account of continued risk aversion towards emerging market economies. The index today closed at 4841.60, down 82.65 points or 1.7% from Thursday.
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