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Moneycontrol.com >> Messageboard >> Stocks >> Bharti Airtel >> Bharti Airtel: Book Profits!
   You are here :     Moneycontrol     MMB    Stocks      Bharti Airtel                         Most active discussions of 2006 , 2007 & 2008
Bharti Airtel: Book Profits! (255)   02-Oct-09 20:00Track this thread   Tracked by (2)  
Posted by:   joetom on ( 02-Oct-09 20:00 )
Price : BSE: Rs 435.35 ( 4.01 % ), NSE: Rs. 435.10 ( 3.90 % )
Bharti-MTN deal has been called off and growth prospects for the company on that route is closed for the time being. With exceeding competition and prospects of recession continuing for some more time in World economies, such a tie-up may not be forthcoming in near future, though Mr Mittal is still dialing, but getting all wrong numbers. Growth prospects in India is almost capped for this sector. Telecom providers are basically making claims of new subscribers, but never report about subscribers having fallen out and subscribed to another network.

On Thursday, the news was negative, but I specifically mentioned on my Blog that bulls may take the scrip higher and come out. Exactly that is what happened. Stock opened and traded as high as 467 and fell back to 435 at close.

Current opportunity may be utilised to come out of the scrip to re-enter below 390 (to be reviewed).

Tom
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