Comments
The shares Bharti Airtel rose as much as 3.5 per cent to Rs 306 after declining 2.9 per cent in early trade. It now trades at Rs 301, up 1.84 per cent in noon trade.
The telecom company has posted 65.4 per cent fall in quarterly profit on Thursday as it faced pricing pressure amid aggressive competition in the Indian telecom industry.
The prospects of African operations and progress towards the listing of holding company are positives, but mounting losses in the India business worrisome, says Nomura in a note. It also retained ”buy” rating with a price target of Rs 505.
Deutsche Bank too raised rating to “buy” from “hold”, saying the company continued to execute well as underlined by robust growth in 4G subscriptions, data usage in India and continued improvement margins in Africa operations.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.