Advertisement

HindustanTimes Fri,19 Dec 2014

Morgan Stanley downgrades Bharti Airtel

Reuters  Mumbai, August 21, 2012
First Published: 14:17 IST(21/8/2012) | Last Updated: 14:20 IST(21/8/2012)

Morgan Stanley on Tuesday downgraded Bharti Airtel to "equal-weight" from "overweight" and cut its target price to Rs. 280 rupees from Rs. 366.

Advertisement

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

It added that 3G rates have also been slashed in the past six months, while overall sequential data revenue growth was declining.

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

Bharti's shares were down 0.6%.


Advertisement
more from Business

Tata, Singapore Air venture Vistara to take off on January 9

Based in New Delhi, the full service Vistara will begin operations with a fleet of new Airbus A320-200s with 148 seats, Tata SIA Airlines Ltd said in a statement. Vistara will offer flights to Mumbai and Ahmedabad initially.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved