MARKET EYE-Morgan Stanley starts Bharti Infratel at 'overweight'
* 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. (email@example.com; firstname.lastname@example.org)
- Tweet this
- Share this
- Digg this
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- New NATO leader offers olive branch to Russia
- Brookfield wins Revel Casino auction, but loser vows to fight
- Billionaire Detroit business leader says "blight is like a cancer"
- CANADA STOCKS-TSX fall gets deeper as financial, energy shares drag
India could run out of a critical medicine in its free HIV/AIDS drugs programme in three weeks due to bureaucratic bungling, a senior government official said, leaving more than 150,000 sufferers without life-saving drugs for about a month. Full Article