Hold on to telecom stocks: Gajendra Nagpal

Gajendra Nagpal, CEO, Unicon Financial Solutions in an interview with ET Now talks about telecom stocks.

The telecom space as a whole, what about the counters especially the front line counters like Bharti or probably Idea at this point in time?

Much has been talked about telecom space over last few weeks. We know that all the positives and all the negatives are already into the prices. We know alongside there have been numbers which are happening. At the same time, there has been an excess supply.

The prices have come down so much that at this point in time, it will be better for somebody to hold on to the stock. It does not merit fresh investment fresh look into it because the prospects still are some time away. Over a longer period of time, one would still make an entry but from the short to medium term standpoint, I do not think there is any excitement which is going to be coming into these stocks, so one can at best hold onto the stock. There is no hurry to get into these stocks at this point in time.