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Morgan Stanley downgrades Bharti Airtel

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

BSE   19 Oct 17 | 12:00 AM

473.85  12.3 (2.66%)

NSE   19 Oct 17 | 12:00 AM

473.75  11.8 (2.55%)

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.

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Sensex

Company Price Gain (%)
Bharti Airtel473.852.66
Lupin1,052.500.34
Infosys927.100.29
M & M1,374.450.23
Asian Paints1,180.200.02

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