Buy Bharti Airtel on dips: Baliga

Buy Bharti Airtel on dips, says Ambareesh Baliga, COO, Way2Wealth.

Baliga told CNBC-TV18, "The Africa numbers were supposed to be a drag on Bharti, but the question was how big a drag? So that is quite clear. It is worst than expected. And if you remember, we have been suggesting Bharti since the time it was Rs 260-300. I mean that was a constraint buy at that point of time and we had a price target of about Rs 420 in about 15-18 months. But we saw that Rs 380 levels much earlier. So in fact we had booked out by then, we kept on booking out from every level, right from Rs 330-360-380. But, because of these results in case it comes down and corrects to the levels of Rs 335-340, I think it is again time to start buying Bharti."
The company's trailing 12-month (TTM) EPS was at Rs 21.09 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 17.35. The latest book value of the company is Rs 96.24 per share. At current value, the price-to-book value of the company was 3.8. The dividend yield of the company was 0.27%.