Buy Bharti Airtel, says Saurabh Mukherjea

Buy Bharti Airtel, says Saurabh Mukherjea, Head of Equities, Ambit Capital.

Mukherjea told CNBC-TV18, "We remain buyers on Bharti Airtel because we believe that the current phase of price cutting that we are seeing in telecom is more a strategic price cutting exercise that the three leaders are indulging in to make sure that other people stay out of the coming auction."
He further added, "The challenge with that is as the auctions get postponed the period of price cutting gets extended. But we remain confident that post the auctions you will see prices firm up in the mobile telephony sectors and no one better placed than Bharti to benefit from price hikes in Indian mobile telephones than this company, hence remain buyers."