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₹251.65 -4.9  -1.9%

Last Trade - 12/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £6.56bn
Enterprise Value £8.03bn
Revenue £1.35bn
Position in Universe 65th / 3110

BUZZ-India's Bharti Infratel falls to over 1-yr low as Q4 tenancies drop

Tue 24th April, 2018 5:15am
** Indian telecom tower company Bharti Infratel Ltd's
 BHRI.NS  shares fall as much as 3.8 pct to 315.65 rupees, their
lowest since March 28, 2017
    ** Stock posts biggest daily pct loss since March 19
    ** Co's Q4 profit rises 1.6 pct 6.06 bln rupees ($91.1 mln)
but misses analyst estimates, hurt by loss in tenancies with
some Indian mobile carriers either shutting down or
consolidating operations  urn:newsml:reuters.com:*:nL3N1S04V4
    ** Bharti Infratel lost 22,134 co-locations during the year,
it said on Monday
    ** Nomura analysts say while increasing tenancy exits and
zero uptick in gross tenancy additions are dampeners, they are
encouraged by the uptick in tower additions; keep PT of 354
rupees with 'neutral' rating
    ** Bharti Infratel's exposure to smaller operators now down
to about 3 pct by Morgan Stanley's estimates, and Morgan Stanley
analysts expect it to affect the company in FY2019
    ** Nine of 26 brokerages rate stock "buy" or higher, 13
"hold" and four "sell" or lower; their median PT is 375 rupees
    
 ($1 = 66.5200 Indian rupees)

 ((Reuters Messaging:
tanvi.mehta.thomsonreuters.com@reuters.net))
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