Tuesday 4 November 2008

Buy Bharti Airtel, target of Rs 951: Asit C. Mehta

Asit C. Mehta has maintained its buy rating on Bharti Airtel with a revised target price of Rs 951 in its November 4, 2008 research report. "During the quarter ended Sep 2008, the revenues increased by 41.1% to Rs 89.2 billion. Revenues from mobile services represented 81% of the total revenues for the quarter ended September 30, 2008. The company continues to maintain its leadership position with strong earning visibility and excellent execution record. Bharti’s strong cash position will enable the company to continue with its expansion plans. We believe that Bharti will continue to be the market leader with 25% market share by the end of FY10. Therefore we maintain BUY on “Bharti Airtel Ltd” with a revised price target of Rs 951," says Asit C. Mehta's research report.

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Source: Moneycontrol

Posted by Harsh at 09:55

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