Buy Bharti Airtel around Rs 320- 330 for long term, says PN Vijay, Portfolio Manager, pnvijay.com.
Vijay told CNBC-TV18, "At some stage very soon we will become a buyer in Bharti Airtel because this quarter was not expected to be good for two reasons, the margins have been under pressure for them for various reasons due to competition and rollout costs etc., interest costs due to acquisitions and also the Africa was just turning around, they have done a lot of work."
He further added, "Going forward I think Bharti Airtel is a very sound buy. I would say only a tide less than Idea because the whole 2G imbroglio has worked out in their favor. They would get their pricing back. They are arguably the largest player in the domestic market if you set aside BSNL for a second and they would stand to gain by anything that the new entrants have to pay for the 2G licenses. So it's a great trigger for them. I can see them firming up their mobile costs, their text costs, their broadband pricing etc. in the next few months and there would be less resistance. We may even have a situation of cartelling among the large three or four players. So I think Bharti after this fall probably around Rs 320 or Rs 330 or so would become a good long-term buy for portfolios."
