Whats next in Bharti, Invest or not?

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Whats next in Bharti, Invest or not?

This article was posted on Oct 12, 2009 and is filed under Stock Views

Bharti Airtel is one stock that has been hammered by alomst 30% in the past week. Bharti Airtel. Telecom sector is a matured sector and its no longer a Industry that going to bounce up soon, it depends upon the subscriber count they add up in the coming months or so.

It is a company that has show good growth over the recent 5 years, the company record shows an increase in profit every year, moreover its considered as one of the best telecom company in India.

Motilal Oswal has come out with its earning estimates for Telecom sector for the quarter ended September 2009. According to the research firm, Bharti Airtels’ September quarter sales are expected to go up by 14.2% to Rs 10,301.10 crore on YoY basis.

The company’s net profit is expected to go up by 23.2% to Rs 2521.20 crore on YoY basis.

This seems interesting one can consider accumulation Bharti Airtel for Long term, as its a good investment bet at such an attractive price.

Bharti faces strong resistance around Rs 355-360 levels, above that it can see 400+ levels, considering the company expansion plans it can be sound investment bet

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