Karan Mittal of ICICI Direct told CNBC-TV18, "The core performance was way above expectations for Bharti Airtel but the tele media business and also to a large extent African has been disappointing for Airtel and the debt is a good overhang but they have reduced their debt partially in this quarter, the Qatar Foundation money that they received."
"Going forward it will be a slow decline in the debt. So, there remain an overhang but still we remain positive on the stock for its sheer core performance. We have a target price of Rs 385 with a strong buy rating on Airtel."
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