Rohit Chordia, Associate Director at Kotak Institutional Equities is of the view that Bharti Airtel may test Rs 415.
According to Rohit Chordia, associate director at Kotak Institutional Equities, incumbents will reap benefits from medium-term consolidation. The objective of the auction was to renew spectrum and expand data base, he says.
Rohit Chordia, associate director of Kotak Institutional Equities is negative on Bharti Infratel.
Rohit Chordia, associate director of Kotak Institutional Equities has a negative view on Reliance Communications.
Rohit Chordia, associate director of Kotak Institutional Equities is bullish on Idea Cellular.
Kotak has lowered Bharti's target price by 3 percent and cut earnings estimate between 3 and 5 percent. He is super bullish on Idea because the company has one of the best balance sheets in the industry.
The government has raised Rs 61,162 crore after 10 days of fierce bidding from the telecom spectrum auction, falling just short of the amount bid for 3G airwaves in 2010.