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

Pricing Controls

REUTERS SHOWCASE

India-China Relations

India-China Relations

India says to defend China border after standoff ahead of Xi visit.  Full Article 

Importing Iron Ore

Importing Iron Ore

As mining curbs bite, India offers market to glut-hit iron ore.  Full Article 

Lower Output

Lower Output

IOC cuts refinery output as rains hit fuel demand - source.  Full Article 

Drug Approval

Drug Approval

Epirus, Ranbaxy win India approval for arthritis drug copy.  Full Article 

Farming and Technology

Farming and Technology

Climate smart farmers get tech savvy to save India's bread basket.  Full Article 

Rajan Speaks

Rajan Speaks

RBI chief Rajan says limiting reliance on foreign debt.  Full Article 

India-Vietnam Ties

India-Vietnam Ties

India tightens Vietnam defence, oil ties ahead of China Xi's visit.  Full Article 

Debt & Equity Deal

Debt & Equity Deal

KKR to lend $175 million to GMR Infrastructure - source.  Full Article 

Preparing for IPO

Preparing for IPO

Alibaba boosts IPO as demand strengthens.  Full Article 

Reuters India Mobile

Reuters India Mobile

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