Telecom Stocks Bharti Airtel

Vodafone Idea is expected to be one of the key beneficiaries as the company was required to submit a total of Rs 24,700 crore in BGs, ICICI Securities said in a note.

Telecom stock update: Bharti Airtel rallied 5 per cent to hit a new high at Rs 1,539; RIL rose 2% to Rs 3,129, and saw its market capitalisation touch Rs 21.12 trillion in intra-day trades today.

Notably, the stock is among the top gainers on Bombay Stock Exchange (BSE)

Near-term overhang of 5G related capex and subscriber churn should be watched by investors, they said

Tariff hike hopes and market share gains in the coming quarters could help sustain stock price

The apex court in its verdict, has prescribed new definition of adjusted gross revenue and held that all revenue accruing from telcos constitute to AGR.

MTNL saw a continuous 'gap-up' close in last 16 sessions, while Bharti Airtel has been rising with 'Higher High, Higher Low' formation.

Last week, in a major blow to the incumbent telecom players, Bharti Airtel and Vodafone-Idea, the Supreme Court ruled that the existing definition of AGR will prevail.

The stock was trading in the positive zone for the fifth straight day, hitting its highest level since March 2018.

According to Motilal Oswal Securities, Bharti and Idea could see this as a welcome positive as it could result in an increase in EBITDA by Rs 2,760 crore

Idea Cellular, Tata Communications and Bharti Airtel were down in the range of 3% to 6%, as compared to 0.32% rise in the S&P BSE Sensex at 11:17 am.