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MARKET EYE-Bharti Airtel suffers from latest broker downgrade
August 21, 2012 / 6:47 AM / in 5 years

MARKET EYE-Bharti Airtel suffers from latest broker downgrade

* Morgan Stanley downgrades Bharti Airtel to
"equal-weight" from "overweight" and cuts its target price to
280 rupees from 366 rupees .
* Morgan Stanley says traffic growth is coming at the expense of
operating margins as tariff wars in the sector bring down
average revenue per minute for voice calls. 
* Investment bank adds 3G rates have also been slashed in  the
past six months, while overall sequential data revenue growth is
declining.
* Bharti Airtel has suffered a rash of downgrades this month,
sending shares to their lowest since Oct. 2006 on Aug. 10 a fter
posting disappointing April-June earnings. 
* Bharti's shares down 0.6 percent.

 (manoj.dharra@thomsonreuters.com)

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