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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   20 Jan 17 | 04:01 PM

320.70  4.15 (1.31%)

NSE   20 Jan 17 | 03:59 PM

320.55  3.45 (1.09%)

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 Airtel320.701.31
Asian Paints965.800.60
ITC255.450.59
Bajaj Auto2,702.000.22
HDFC Bank1,236.650.15

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