Morgan Stanley, Nomura upgrade Bharti Airtel
MUMBAI (Reuters) - Morgan Stanley raised its rating on Bharti Airtel Ltd (BRTI.NS) to "overweight" from "equalweight," citing positive factors for the sector such as rising tariffs and data volumes, falling capital spending and eased competitive intensity.
Morgan Stanley said the "failure" of the recent 900 Mhz auction also lowered regulatory risk for India's mobile sector, and upgraded Idea Cellular Ltd (IDEA.NS) as part of the same report dated Wednesday.
Nomura also raised its rating on Bharti, but to "neutral" from "reduce", citing a recent share price drop. Nomura said it remained "relatively cautious" on the sector given high valuations, regulatory "drama", and a "low" degree of confidence in earnings.
(Reporting by Abhishek Vishnoi and Manoj Dharra; Writing by Rafael Nam; Editing by Gopakumar Warrier)
- Tweet this
- Share this
- Digg this
Trending On Reuters
The BSE Sensex and Nifty fell more than 2 percent on Thursday to a more than 10-week low on worries foreign investors, whose ownership of domestic shares have hit a record, may trim positions on risk aversion after Saudi Arabia launched air strikes in Yemen. Full Article