 "Telecom sector")
Driven by imminent tariff hikes post General elections in April/May 2024, and the government's push towards ensuring a three-player market, brokerage firm IIFL Securities has turned bullish on the Indian telecom sector.
As it expects down-trading to be limited, considering the staple nature of telecom, the brokerage has upgraded Vodafone Idea stock to 'Add' with a target price of Rs 14 -- an upside of 8.3 per cent from current levels.
It has also upgraded Indus Towers stock to 'Buy' with a target of Rs 379, and has raised Bharti Airtel stock’s target price to Rs 1,379 from Rs 1,215,
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