Monday, November 19, 2012

Bharti Airtel soaring high on the spectrum!

The stock price of Bharti Airtel rose almost 2.3% as brokerage firms recommend buy for India's number one telecom service provider. Bharti airtel stocks have gained in the choppy market where other stocks have majorly lackluster.
Bharti shares have so far in the month of November gained 15% and last week proved to it's best inning since september as it's shares surged 9.3% after the 2G Spectrum auction failed to get buyers at the anticipated costs. As on Monday 19th November, the stock has hit a low of INR302.5 and an intraday high of INR311.1

Bharti Airtel definitely seems to be wooing traders after agencies like Credit Suisse and Goldman Sachs upgraded Bharti Airtel from 'underperform' to 'outperform' and from 'neutral' to 'buy' respectively. Both brokerage agencies opine that regulatory risk is reduced in case of Bharti Airtel and the potential of tariff hike is high with reduced competition on the domestic front as telecom operators are focusing on reducing losses.

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