May 7, 2019 / 4:25 AM / 5 months ago

BUZZ-India's Bharti Airtel hits over 7-month high on Q4 beat

** Shares in Bharti Airtel Ltd rise as much as 2.2 pct to 340.85 rupees, their highest since Sept 24, 2018

** Delhi-headquartered telecom firm posted a 29 pct jump in March-qtr profit on Monday, helped by a one-time gain of 20.22 bln rupees ($291.39 mln)

** Results ahead of expectations led by margin beat of 250 bps, Jefferies says, maintaining an “underperform” rating with a PT of 270 rupees

** While co is better positioned than incumbents, believe recovery is still some time away; key for Bharti Airtel going forward is improvement in pricing, which still remains elusive - Jefferies

** Co also signed a deal to combine its VSAT ops in India with Hughes

** Stock up for a fourth straight session; up 16.2 pct this year as of last close

$1 = 69.3910 Indian rupees

0 : 0
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