BNP raises Bharti Airtel to 'buy', cuts Reliance Comm

Fri Jan 11, 2013 1:44pm IST

A man stands next to a shop painted with an advertisement for Bharti Airtel on the outskirts of Jammu December 11, 2012. REUTERS/Mukesh Gupta/Files

A man stands next to a shop painted with an advertisement for Bharti Airtel on the outskirts of Jammu December 11, 2012.

Credit: Reuters/Mukesh Gupta/Files

Related Topics

Stocks

   
A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

Reuters Market Eye - BNP Paribas upgraded Bharti Airtel Ltd (BRTI.NS) to "buy" from "hold", it said in a note on Thursday.

Bharti is well positioned to benefit from an improving outlook for the sector, including a consolidating industry, the return of pricing power, and an expected "strong" pick up in wireless data use, says BNP.

BNP also retains its "buy" rating on Idea Cellular Ltd (IDEA.NS), calling the stock its "top pick" in the sector as the company is a "pure play" GSM mobile operator.

However, BNP cut Reliance Communications Ltd (RLCM.NS) to "reduce" from "hold" after noting shares had rallied 33.5 percent in the past three months.

Reliance Communications would have to pay for excess spectrum while suffering from "high" debt and lagging operating performance, BNP adds.

Bharti Airtel shares are down 0.8 percent as of 11:50 a.m. Idea is up 0.1 percent, while Reliance Communications is flat.

(Reporting by Devidutta Tripathy and Manoj Dharra)

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

Market Eye

REUTERS SHOWCASE

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Modi in Japan

Modi in Japan

Japan aims to double India investment in 5 years - Nikkei  Full Article 

Market Outlook

Market Outlook

Indian shares headed for correction, but outlook strong - BofA Merrill.  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Reuters India Mobile

Reuters India Mobile

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