Aditya Narain, head of Research, Institutional Equities at Edelweiss Securities, said that the phase of uncertainty over the survival of telcos is over.
“There have been phases. The first phase was effectively 'who will survive' and within it 'how many will survive'. I think that phase is fundamentally over and that is where you have seen a lot of both excitement and disappointment," said Narain in an interview with CNBC-TV18.
Speaking about two-wheelers, he said, “I think the bulk of that trade from a stock perspective has fundamentally played out, the risks in demand would tend to be a little bit to the downside even though they might be pushed out beyond the festive season and so to that extent, I would not chase those stocks for the reason that I think this combination has run its course and the fact that some of these stocks have run anywhere between 50-75 percent would to me suggest that I think we need to pull back a little bit and wait a certain amount.”