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Bharti Airtel: Drop This Call

| 9/6/2012 9:02 PM Thursday

Telecom was touted to be a sunrise sector a couple of years ago, but has failed to deliver as expected. Within a span of two years, the scenario has changed so badly that the sentiments towards the sector are anything but positive now.

The sector has not seen good times for quite some time, especially with all the flak from the 2G scam hitting it hard. The sentimental change towards the telecom sector can also be attributed to the intense competitiveness among incumbents, which has led to a severe pressure on the margins of players. Also, companies are yet to capitalise on the much-hyped 3G launch, which has seen a huge debt pile-up on their books. There are certain ongoing issues on the regulatory front too, especially with regard to the 2G spectrum. The auction dates have been postponed by the Supreme Court from 31st August, 2012 to 11th January, 2013 with two discomfiting caveats – the failure to adhere to the new schedule would invite contempt action against officials and the possible imposition of heavy penalties on the Union government.

In this midst of all this, Bharti Airtel, which was being looked upon as the flag bearer of the sector at one point of time, has been among the worst hit. Bharti has been severely beaten down since September 2010, declining by as much as 32.51 per cent and underperforming the Sensex (which went down by 13.38 per cent over the same period).

What ails Bharti and what should investors be doing with the stock in the current scenario? Here are some quick updates that could either help boost the strength of your call or drop the counter in favour of something much better and safer.

Bharti is the only Indian company that has international operations spanning across 17 African countries through Zain Telecom and also in Sri Lanka and Bangladesh through its subsidiaries there. So, how well is the company performing of late?

 

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