Rcomm is a dead cat bounce: CK Narayan, Growth Avenues Asset Advisors

CK Narayan, Growth Avenues Asset Advisors, in a chat with ET Now, gives his views on the telecom space


We have seen a sharp up move there in Bharti and even Rel Comm. What do you read of this pack?

This news should certainly give it a bit of a booster. Bharti has been doing pretty well. That has been sought after by the institution pack but R Comm I would leave it alone. This might be kind of a dead cat bounce in R Comm, that particular stock has too many problems of its own to really warrant a fresh buy. I am a little surprised to see maybe because I have not really tracked it but certainly surprised to see the kind of strength, which has return to Tata Teleservices, that has been a dog for very long time for a two years running ever since the 2008 top, that stock has never done anything but in recent times, stock has shown some amount of spunk, so I would take a closer look.