Politics

Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

Weakened Congress wondering if early elections will help

The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term.  Full Article 

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Merrill raises Bharti Airtel, Idea to 'buy'

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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

Fri Nov 16, 2012 12:52pm IST

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.
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