Bharti Brokerage: Goldman Sachs Rating: BUY Target: Rs 430 Rationale: It is now their top pick among Indian telecom companies. They feel the Supreme Court decision is a positive for the company as potential license cancellation of new entrants could reduce competition and give it greater bargaining power to raise tariffs.
Cairn Brokerage: Bank of America Merrill Lynch Rating: BUY Target: Rs 383 Rationale: The management has said that investors can expect a good dividend distribution policy and they believe that the company could pay upto Rs 18 a share by way of dividend this year.
Idea Brokerage: Bank of America Merrill Lynch Rating: NEUTRAL Target: Rs 100 Rationale: They believe though the company could be a major beneficiary from potential exit by Uninor, there are concerns about increase in debt towards spectrum outgo and limited valuation upside.
IDFC Brokerage: UBS Rating: NEUTRAL Target: Rs 125 Rationale: They expect the company to post a lower return on equity over the next two years on moderate loan growth. Pressure on non-interest revenue due to a slowdown in disbursements is a concern.