Decent uptick in a stock like Bharti can happen if Reliance bids aggressively: Prashastha Seth

In a chat with ET Now, Prashastha Seth, IIFL Private Wealth shares his view on telecom sector:

ET Now: The one stock which held out yesterday was Bharti. Of course there are reports that the company is planning to sell its African tower business and that is going to help them garner some amount of money. What is the prospect of the telecom space according to you?

Prashastha Seth: For telecom space, you would have to wait for the auction and see how the whole auction plays out. The key factor that will decide is how aggressively Reliance bids and if Reliance essentially does not bid aggressively, then you could see a decent uptick in a stock like Bharti.

However if Reliance is very aggressive in its bidding and its let’s say bids with a view of having a pan-India 900 megahertz spectrum, then the dynamics with respect to tariffs will totally change in the sector.