Telecom targets turnaround

The telecom industry — battered by Reliance Jio’s cheap plans — will witness a turnaround in six months, analysts forecast.

Brokerage Edelweiss Securities said there could be a price recovery after September as the operators benefit from higher mobile broadband penetration and Jio approaches 400 million subscribers.

“Finally, there’s light at the end of the tunnel as we perceive potent catalysts on the horizon — mobile broadband penetration crossing 50 per cent has rendered monetising of existing customer base more lucrative than chasing incremental market share.

“Price hikes are imminent as Jio approaches its 400 million subscriber goalpost and telecom operators’ massive non-core asset monetisation drive.

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