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As Idea gets set to post results, watch Bharti shares
January 29, 2013 / 8:03 AM / 5 years ago

As Idea gets set to post results, watch Bharti shares

Reuters Market Eye - Investors in Bharti Airtel(BRTI.NS) are keenly waiting rival Idea Cellular Ltd’s (IDEA.NS) October-December earnings results due later in the day.

A construction supervisor speaks on a mobile phone amid rolls of underground telephone cable pipes on the outskirts of Hyderabad November 29, 2010. REUTERS/Krishnendu Halder/Files

Idea is much smaller than Bharti in revenue terms, but both mobile carriers operate on GSM technology and have similar kinds of subscribers.

As well, both companies’ mainstay is second-generation (2G) voice although there has been a greater push in recent months to increase revenue from mobile data.

That may help explain why Idea and Bharti shares have seen a correlation of 0.86 in the past three months.

“Idea’s numbers would also answer whether the 2G industry is growing or not, which should have bearing on Bharti too,” said an analyst tracking the sector.

Reporting by Abhishek Vishnoi

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