Bharti Airtel Bucks The August Decline Trend
Bharti Airtel Ltd. ended August with gains first time in seven years as India’s largest telecom operator’s revenue stabilised in the quarter ended June.
The mobile services provider got some respite after its newest rival Reliance Jio Infocomm Ltd. began charging its users from April after six months of free services. Expected measures by an inter-ministerial group to ease telecom stress and asset sales to reduce debt also helped the company's shares buck the trend.
47 percent of the analysts tracked by Bloomberg have a ‘Buy’ rating on the stock, down from 60 percent at the start of the year.