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:
  • Most Popular
  • Most Shared

A Different Past

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

Indian Exports

Indian Exports

How to get India’s exports back on track  Full Article 

Reuters India Mobile

Reuters India Mobile

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