Bharti Airtel surged on Wednesday after
global research firm, Nomura upgraded the stock to 'Neutral' with
increased target price of Rs 310.
Nomura said, ''Bharti's recent management shuffle and its new
India CEO could take a more proactive approach on improving
profitability. The business has significant operating leverage - a
5% increase in blended India RPMs and 300 bps in additional margins
can add Rs 80 to our price target. The regulatory landscape has
never been easy to call, but with ongoing delays in spectrum
auction, spectrum prices are also moderating.'' 
Shares of the companyare trading at Rs
320.15, up Rs 8.85, or 2.84% at the Bombay Stock Exchange (BSE) on
Wednesday at 10:36 a.m.The scrip has touched an intra-day high of
Rs 323.35 and low of Rs 315. The total volume of shares traded at
the BSE is 204,481.In the earlier session, the shares climbed
1.38%, or Rs 4.25, at Rs 311.30. Currently, the stock is trading
down 13.57% from its 52-week high of Rs 370.40 and above 34.23%
over the 52-week low of Rs 238.50.
Post a Comment