MARKET EYE-Morgan Stanley starts Bharti Infratel at 'overweight'

Wed Jan 16, 2013 10:49am IST

Related Topics

Stocks

   

* Morgan Stanley initiates coverage on Bharti Infratel Ltd
 with an 'overweight' rating and a target price of 255
rupees.
* The investment bank says the mobile tower operator will
benefit from increased wireless data traffic growth, as well as
a healthy balance sheet, especially as operators extend 3G
services.
* Bharti Infratel also has positive free cash flow and balance
sheets, as well as "attractive valuations".
* Bharti Infratel shares up 0.7 percent at 206.73 rupees. That
was down 10.3 percent from its IPO price of 220 rupees for funds
and wealthy investors, who received the majority of the
allocation. Bharti Infratel sold shares to retail investors at
210 rupees and to cornerstone investors at 230 rupees.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
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
People walk in the Wipro campus in Bangalore June 23, 2009. REUTERS/Punit Paranjpe/Files

Wipro Q4 net profit beats estimates, rises 29 percent

Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier.  Full Article | Full Coverage 

REUTERS SHOWCASE

Literary Giant Dies

Literary Giant Dies

Nobel winner Garcia Marquez, master of magical realism, dies at 87.  Read 

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Full Article | Full Coverage 

Insider Trading

Insider Trading

Ex-Goldman director Gupta starts prison term on June 17.  Full Article 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Deal Talk

Deal Talk

Piramal to buy 20 percent stake in Shriram Capital for $334 million.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

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