Bharti Infratel top pick; underweight on telecom: Emkay

Dhananjay Sinha, Head-Instl Research of Emkay Global Financial Services told CNBC-TV18, "We believe that because of the 4G expansion and also that you have Reliance Jio, which is getting into the business, we are expecting competition to intensify within the telecom players and hence we are somewhat cautious about the telecom service provider. The only thing that we think can grow are people who are engaged in telecom infrastructure and hence we have Bharti Infratel, which is a top pick over there but generally we are underweight on the telecom space."At 12:48 hrs Bharti Infratel was quoting at Rs 421.65, up Rs 32.00, or 8.21 percent. It has touched an intraday high of Rs 435.40 and an intraday low of Rs 392.95.