Feb 27, 2013, 10.58 AM IST
Morgan Stanley raised its rating on Bharti Airtel Ltd to "overweight" from "equalweight," citing positive factors for the sector such as rising tariffs and data volumes, falling capital spending and eased competitive intensity.
Morgan Stanley said the "failure" of the recent 900 Mhz auction also lowered regulatory risk for India's mobile sector, and upgraded Idea Cellular Ltd
Nomura also raised its rating on Bharti, but to "neutral" from "reduce", citing a recent share price drop. Nomura said it remained "relatively cautious" on the sector given high valuations, regulatory "drama", and a "low" degree of confidence in earnings.
Bharti Airtel stock price
On December 13, 2013, Bharti Airtel closed at Rs 321.05, down Rs 2.45, or 0.76 percent. The 52-week high of the share was Rs 373.50 and the 52-week low was Rs 266.95.
The company's trailing 12-month (TTM) EPS was at Rs 11.45 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 28.04. The latest book value of the company is Rs 135.70 per share. At current value, the price-to-book value of the company is 2.37.
Action in Bharti Airtel
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