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 September 23, 2014, at 12:10 hrs Bharti Airtel was quoting at Rs 412.30, down Rs 2.8, or 0.67 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.
The company's trailing 12-month (TTM) EPS was at Rs 19.52 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 21.12. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.47.
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