Share prices of Bharti Airtel and Idea Cellular have risen by 22-23% from their lows last week. While the near-term outlook is bleak, some investors are celebrating the improvement in the long-term outlook. Share prices of Bharti Airtel Ltd and Idea Cellular Ltd have risen by 22-23% from their lows last week. This translates into a gain of Rs40,300 crore or $6.2 billion in the market value of the two companies. It’s worthwhile noting that this comes just a couple of weeks before these companies report their worst results for the wireless business in years. What’s more, things will go further downhill in the December quarter, thanks to the 57% cut in interconnect usage charges (IUC), a decent revenue source for incumbents. While the near-term outlook is bleak, some investors are celebrating the improvement in the long-term outlook. First, the relatively small-sized Tata Teleservices Ltd practically gifted itself to Bharti Airtel. Second, Reliance Jio In...