Merrill raises Bharti Airtel, Idea to 'buy'

Fri Nov 16, 2012 12:52pm IST

An employee sits at a Bharti Airtel public phone booth installed at the airport in New Delhi October 23, 2012. REUTERS/Vivek Prakash/Files

An employee sits at a Bharti Airtel public phone booth installed at the airport in New Delhi October 23, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

Reuters Market Eye - Bank of America-Merrill Lynch upgraded Bharti Airtel (BRTI.NS) and Idea Cellular (IDEA.NS) to 'buy' from 'neutral' citing the positive outcome of the 2G auction this week.

BoA-Merrill said the "deep" under-performance in both stocks over the past 12 months, potential for more favourable policy decisions in areas such as spectrum pricing, and prospect of "strong" fiscal 2014-15 earnings growth would drive Bharti and Idea.

An auction of 2G airwaves attracted less demand than targeted by the government, leading to lower prices that are giving a respite to the debt-ridden industry.

Bharti gains 3.5 percent, heading towards its fourth day of gains. Idea is up 1.5 percent, gaining for a second day.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Pricing Controls

REUTERS SHOWCASE

India-China Relations

India-China Relations

India says to defend China border after standoff ahead of Xi visit.  Full Article 

Importing Iron Ore

Importing Iron Ore

As mining curbs bite, India offers market to glut-hit iron ore.  Full Article 

Lower Output

Lower Output

IOC cuts refinery output as rains hit fuel demand - source.  Full Article 

Drug Approval

Drug Approval

Epirus, Ranbaxy win India approval for arthritis drug copy.  Full Article 

Farming and Technology

Farming and Technology

Climate smart farmers get tech savvy to save India's bread basket.  Full Article 

Rajan Speaks

Rajan Speaks

RBI chief Rajan says limiting reliance on foreign debt.  Full Article 

India-Vietnam Ties

India-Vietnam Ties

India tightens Vietnam defence, oil ties ahead of China Xi's visit.  Full Article 

Debt & Equity Deal

Debt & Equity Deal

KKR to lend $175 million to GMR Infrastructure - source.  Full Article 

Preparing for IPO

Preparing for IPO

Alibaba boosts IPO as demand strengthens.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage