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 raised its rating on Bharti Airtel Ltd
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 July 22, 2014, Bharti Airtel closed at Rs 353.25, up Rs 16.20, or 4.81 percent. The 52-week high of the share was Rs 373.50 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 March 2014. The stock's price-to-earnings (P/E) ratio was 21.4. 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 2.32.
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