Telecom Index in the Red; Rcom Top Drag
On Wednesday, during afternoon trade, the BSE Telecom index was trading in the negative index. At around 12:50 pm, it was trading 0.24 per cent down at 1,191. The shares of Reliance Communications were the top drag.
The list of shares trading in the red included GTPL Hathway, Vindhya Telelinks, Himachal Futuristic Communications, Tejas Networks, MTNL, OnMobile Global and Bharti Airtel. While the stocks, those were trading in the green index included Aksh Optifibre, ITI, Idea Cellular, Tata Communications, Sterlite Technologies and Bharti Infratel.
Telecommunication industry is one of the most emergent industries that has evolved very swiftly in last decade. At present, India is the world’s second largest telecommunication market and it is still growing. Mobile economy in India is increasing very fast and will add significantly to India’s GDP. Indian telecommunication market is a excellent opportunity for network providers from native and exogenous Players. Both Indian network providers’ international providers receive considerable market share in the Indian mobile industry. Currently, it was seen that the Reliance Jio has gave a big jolt to Indian telecom industry, schemes like free internet, free calling, 4g network provide a serious threat to others. Because of Reliance Jio, other service providers are facing a new kind of challenge with new circumstances. It is giving tough competition to other service providers.