India telecom market is getting crowded with more and more players including Decomo and Uninor taking plunge into fastest growing telecom market in the world. While the growth is tremendous competition is cut throat and that is killing margins.

I think we should expect a significant decline in profitability of Airtel, Idea and Rcom.

The same happened with Airliens last year when market got congested with many cheap players who ruined the party for Jet Airlines. Those cheap airlines didn't survive but they did the damage.

I will recommend to stay away from telecom value trap . While stocks like Airtel and Rcom may look cheap on historic basis but telecom fundamentals have changed and consolidation will not happen in near future. All the players have deep pockets and it's going to be a long and dirty fight for subscriber numbers.

One sector that is benefiting from this war is media and newspapers. Newspapers and outdoor ads are fillwed with 1 paise billing ads. Good for newspapers and media.