Sell Bharti Airtel With Target Of Rs 360

Sell Bharti Airtel With Target Of Rs 360Technical analyst Husseini Wadharia of Techno Shares has maintained 'sell' rating on Bharti Airtel stock with a target of Rs 360.

According to analyst, the interested investors can sell the stock with a stop loss of Rs 380.

The analyst also said that it is better to sell the stock at this time as there are full chances of a decline in the stock.

The stock of the company, on May 03, closed at Rs 375.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 390 and a low of Rs 257 on BSE.

Current EPS & P/E ratio stood at 18.08 and 20.37 respectively.

The country's top mobile phone carrier, Bharti Airtel, is projected to record lower quarterly profits, with investor concentration mainly on an investigation into a multi-billion dollar telecommunications licensing scam.

Companies including Bharti Airtel recently begun launching third-generation (3G) networks and is betting on the pick up of data services to improve margins.

"Telecom sector is going through a sentimental breakdown, there's a lot of uncertainty," said K. K. Mital, head of portfolio management at Globe Capital.

Bharti Airtel has the biggest number of pre-paid subscribers in the state of Jammu and Kashmir but now because of its 'hapless' client service, hoards of subscribers are now mulling to swap over to other firms.

According to the rules of the Central Department of Telecommunications, a fresh affirmation of pre-paid subscribers has been ordered and due to this reason, the SIM cards of various prepaid subscribers have been blockaded.