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Our Bureau

Mumbai, Oct. 19 Though specific developments with respect to Reliance Communications and Videsh Sanchar Nigam Ltd have resulted in their share prices moving up , select telecom stocks have been dragged down by the general decline in the stock markets.

The Anil-Dhirubhai Ambani company Reliance Communications has finally received the green signal to move ahead with its GSM plans.

It has also formally announced that it would be launching nation-wide GSM services.

It would become the first player in India to offer pan-India GSM and CDMA services.

Bharti Airtel declined by 5 per cent on Friday, while Idea Cellular was down 1.13 per cent. Spice Communications slid 3.19 per cent and Tata Teleservices (Maharashtra) was down 2.82 per cent.

The Tatas-owned VSNL was up 5.25 per cent, possibly because of its plans for expansion of its wireless broadband facilities, said analysts. VSNL has announced expansion of its international in-roaming service on Wi-Fi with the addition of NTT, Japan. The company has been leading the growth of the Wi-Fi industry in India and has the largest Wi-Fi deployment among domestic Internet service providers (ISPs) with over 350 hotspots.

It has drawn up major plans this year to further enhance the footprint to over 1,000 hotspots — bringing high-speed broadband internet more closer to the large Indian travelling population

Analysts have expressed optimism about the telecom sector’s performance, at least for the medium and long term. “Telecom companies’ subscriber volumes have increased and their asset-turnover ratio is much more than their initial investments, especially for companies in the wireless segment,” commented an analyst with a leading broking house.

“One should not go by their scrip’s performance which is determined by several other factors, which have also affected the market as a whole,” he said.

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