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 28, 2015, at 15:27 hrs Bharti Airtel was quoting at Rs 362.70, up Rs 15.35, or 4.42 percent. The 52-week high of the share was Rs 452.45 and the 52-week low was Rs 332.60.
The company's trailing 12-month (TTM) EPS was at Rs 32.61 per share as per the quarter ended June 2015. The stock's price-to-earnings (P/E) ratio was 11.12. 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 1.81.
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