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
- Indian diplomat Khobragade was strip-searched after arrest in U.S
- India trims perks for U.S. staff in dispute over envoy's New York arrest
- UPDATE 3-U.S.' Kerry voices 'regret' to India over diplomat case
- UPDATE 2-"Great Train Robber" Ronnie Biggs dies aged 84
- UPDATE 1-China tightens curbs on bitcoin trade
India announced retaliatory measures against the United States on Wednesday, including revising work conditions of Indians employed in U.S. consulates and a freeze on duty-free alcohol, in an escalating row over the arrest of a diplomat in New York. Full Article | Slideshow
Financial Tech ruled 'not fit' to run India's biggest commodities bourse. Full Article