Telecom stocks rose on hopes of sectoral consolidation
Monday, January 30, 2017, 1:11 PM
Shares of telecom companies rose rapidly on Monday on hopes of consolidation in the sector. Analysts expect there could be a possible merger between Vodafone and Idea Cellular in view of tough competition among top telecom companies after the launch of Reliance Jio. Jio’s aggressive tariff plans and massive investments have started hitting rivals.