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Morgan Stanley downgrades Bharti Airtel

Reuters/ 21 Aug 12 | 01:06 PM
Related to : Bharti Airtel Ltd
 Bharti Airtel Ltd

BSE   24 Nov 15 | 12:00 AM

341.25  2.6 (0.77%)

NSE   24 Nov 15 | 12:00 AM

341.55  2.55 (0.75%)

Morgan Stanley downgrades Bharti Airtel to "equal-weight" from "overweight" and cuts its target price to Rs 280 from Rs 366 .

Morgan Stanley says traffic growth is coming at the expense of operating margins as tariff wars in the sector bring down average revenue per minute for voice calls.

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Investment bank adds 3G rates have also been slashed in the past six months, while overall sequential data revenue growth is declining.

Bharti Airtel has suffered a rash of downgrades this month, sending shares to their lowest since October 2006 on August 10 after posting disappointing April-June earnings.

Bharti's shares down marginally.


Company Price Gain (%)
Hind. Unilever811.402.42
H D F C1,218.702.09
Reliance Inds.968.001.67
Bharti Airtel341.250.77


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