26 March 2012

Telecom: Feb GSM net adds - encouraging trend for Bharti, Idea stays strong :: Kotak Securities PDF link

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Telecom: Feb GSM net adds - encouraging trend for Bharti, Idea stays strong
` Feb 2012 GSM net adds - key data points
` Jan 2012 VLR data was also encouraging for Bharti
` Encouraging signs for Bharti; too early to pass a verdict on 'turnaround'
though

http://www.kotaksecurities.com/pdf/indiadaily/indiadaily22032012.pdf



Feb GSM net adds – encouraging trend for Bharti, Idea stays strong. Bharti
reported the second consecutive month of improvement in monthly net adds; VLR net
adds for Jan 2012 were also strong. These are encouraging signs for a company
attempting to stem its market share losses, but too early to pass a verdict with
conviction, in our view. Idea and Uninor continue to lead on net adds. Overall industry
net adds also appear to be stabilizing at around 10 mn per month levels.

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