Bharti Airtel may move to Rs 420: Suresh Mahadevan

Suresh Mahadevan of UBS AG told CNBC-TV18, "We are very positive on Bharti Airtel because we think there are three things that are happening first is voice pricing is going up. In last two quarters Bharti’s voice realisation has grown by 5 percent. Idea Q3 is also out, last three quarters it is up by almost 8 percent, so that trend will continue. Number two we think that data is yet to grow. So I think those are the two big reasons why we are positive."

"Thirdly the February 3 auction could emerge as a positive catalyst especially if there are no big fireworks like a lot of investors are worried about, I think that could prove to be a positive catalyst. We are at Rs 420 which still gives the considerable upside from the current price of around Rs 305-306."