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 August 01, 2014, at 15:50 hrs Bharti Airtel was quoting at Rs 379.55, up Rs 6.95, or 1.87 percent. The 52-week high of the share was Rs 386.80 and the 52-week low was Rs 279.25.
The company's trailing 12-month (TTM) EPS was at Rs 16.51 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 22.99. The latest book value of the company is Rs 152.21 per share. At current value, the price-to-book value of the company is 2.49.
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