Bharti Airtel shares rose as much as 2.9 percent on Wednesday on continued hopes the government will be forced to cut the reserve prices for the remaining auctions of airwaves, thus improving the earnings outlook for the sector.
Shares also benefitted after Morgan Stanley raised its rating on Bharti Airtel Ltd to "overweight" from "equalweight," citing positive factors such as rising tariffs and data volumes, falling capital spending and eased competitive intensity.
Bharti shares were up 2.3 percent as of 9:28 a.m. after gaining 1.56 percent on Tuesday.
Bharti Airtel stock price
On May 29, 2015, at 14:09 hrs Bharti Airtel was quoting at Rs 419.45, up Rs 18.15, or 4.52 percent. The 52-week high of the share was Rs 425.70 and the 52-week low was Rs 326.75.
The company's trailing 12-month (TTM) EPS was at Rs 33.02 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 12.7. The latest book value of the company is Rs 199.95 per share. At current value, the price-to-book value of the company is 2.10.
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