Hold Bharti Airtel
Stock market analyst Mileen Vasudeo is of the view that investors can hold Bharti Airtel with targets of Rs 300 and 325 on crossing its resistance of Rs 288.
According to analyst, the interested investors can buy the stock on declines.
Today, the shares of the company opened at Rs 280 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 467 and a low of Rs 257 on BSE.
Current EPS & P/E ratio stood at 24.39 and 11.45 respectively.
Country's biggest cellular service company Bharti Airtel has decided to make an investment of $600 million in Nigerian mobile market following its buy out of Zain Telecom's African business for approximately SUD
10.7 billion.
Manoj Kohli, the CEO international and joint managing director stated that the company will also make investment in rustic telephony and launch a business social responsibility plan, which comprises establishment of schools that would provide free quality education to deprived kids in rustic communities.
On July 06, Life Insurance Corporation of India (LIC) has increased its equity stake in Bharti Airtel to 5% after buying shares valued at Rs 131.7 billion.
LIC bought 5 lakh shares, constituting a 0.013% equity stake in Bharti Airtel, for around Rs 131.7 billion via an open market deal
LIC acquired the shares on June 30.