Telecom majors hit by slump
Friday, February 27, 2009 3:03 pmReliance Communications was low at 3.27%, Bharti Airtel was low at 3.18% and Idea Cellular Services was low at 4.92%.
The periodical GDP data given out by the govt previously revealed services sector increase at a slower speed of 9.9% in Quarter 3 December last year as opposed to 10.2% in Quarter 3 December a year ago. India’s Gross Domestic Product increase for the 3rd quarter remained at 5.3% during the quarter previous year. The growth for the Quarter 2 September last year remained at 7.6%.
In the meantime, Reliance Communications declined after its stock ranking was reduced to “sell†from “hold†by international brokerage Deutsche Bank AG.
Nonetheless, Reliance Communications dropped 0.78% as opposed to the BSE’s profit of 3.23%. It had also slid 20.11% as opposed to the BSE’s 0.80% decline.
Bharti Airtel had gained 5.87% as opposed to the BSE’s profit of 3.23%. It dropped 0.44% as opposed to the BSE’s 0.80% decline.
