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MARKET EYE-Morgan Stanley starts Bharti Infratel at 'overweight'
January 16, 2013 / 5:22 AM / in 5 years

MARKET EYE-Morgan Stanley starts Bharti Infratel at 'overweight'

* 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)

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