Voda Idea, Bharti Airtel, MTNL: Are telecom stocks entering a bear phase?

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

Telecom stocks have been in focus ever since the Supreme Court (SC) rejected the telecom companies' definition of Adjusted Gross Revenue (AGR) on October 24 and asked them to clear the dues within three months. 

Both Airtel and Vodafone Idea, according to reports, are planning to file petitions for reviewing the Supreme Court's recent order after the Department of Telecom (DOT) told them to approach the court in this regard. Any review petition is required to be filed by November 24 as there is a time limit of a month to file for reviewing a court order. READ