MUMBAI: Most fund managers say that they are underweight on the telecom sector. And this reflects in telecom service providers’ poor performance for some time now. The pessimism increased, after the recent 3G licence auctions, as it was felt that most companies had overpaid and the resulting debt burden would weigh on their earnings for a while. Interestingly, data on mutual fund holdings in key telecom service providers reveal that fund managers have mostly raised their exposure to these stocks...
Full Story: The Times of India
