Morgan Stanley starts Bharti Infratel at 'overweight'

Wed Jan 16, 2013 11:06am IST

An advertisement for Bharti Infratel Limited's initial public offering (IPO) is seen posted on a wall as a roadside vendor selling magazines and newspapers waits for customers in New Delhi December 12, 2012. REUTERS/Adnan Abidi/Files

An advertisement for Bharti Infratel Limited's initial public offering (IPO) is seen posted on a wall as a roadside vendor selling magazines and newspapers waits for customers in New Delhi December 12, 2012.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Stocks

   

Reuters Market Eye - Morgan Stanley initiates coverage on Bharti Infratel Ltd (BHRI.NS) 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.

(Reporting by 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

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

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