Nischal Maheshwari is positive on Bharti Airtel

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Nischal Maheshwari is positive on Bharti Airtel

Nischal Maheshwari, Edelweiss is positive on Bharti Airtel.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Bharti Airtel has target of Rs 400-420: Baliga Bharti Airtel has resistance at Rs 300-305: Kedia ALSO READ See previous views by Nischal Maheshwari See what other Experts & Brokerages are saying about Bharti Airtel See messages about Bharti Airtel Bharti Airtel BSE | NSE 30/05/12 Are Mutual Funds betting on Bharti Airtel?

Nischal Maheshwari , Edelweiss is positive on Bharti Airtel .

Maheshwari told CNBC-TV18, "I still believe that there is another couple of quarter pain out there in telecom but if you are a long-term investor, I definitely think that this could be a good opportunity to go out and buy it."

He further added, "We are very positive on Bharti Airtel. We are positive on their acquisition of Zain and we believe what they have done in India, what they have done in Sri Lanka and Bangladesh, they will be able to replicate in the African state also. So I think it is a good opportunity to go out and start accumulating at these levels."

At 10:19 hrs the share was quoting at Rs 305.50, up Rs 5.50, or 1.83% with volumes of 379,137 shares. Yesterday the share closed up 0.69% or Rs 2.05 at Rs 300.

The company touched its 52 week high Rs 495.00 and 52 week low Rs 229.50 on 19 May, 2009 and 27 Nov, 2009, respectively. Currently, it is trading -38.28% below its 52-week high and 33.12% above its 52-week low. Market capitalisation stands at Rs 116,006.15 crore.