Interact with CNBC-TV18: Devang Mehta recommends holding Bharti Airtel

Jan 29, 2014, 04.22 PM IST

Market expert Devang Mehta tells CNBC-TV18's Sumaira Abidi that Sakshi should hold the stock, but shouldn't buy more of it given the valuations and if she wants to play the telecom theme then should buy Idea.

Tags  Bharti Airtel, Devang Mehta , Idea Cellular

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Interact with CNBC-TV18: Devang Mehta recommends holding Bharti Airtel

Market expert Devang Mehta tells CNBC-TV18's Sumaira Abidi that Sakshi should hold the stock, but shouldn't buy more of it given the valuations and if she wants to play the telecom theme then should buy Idea.

Like this story, share it with millions of investors on M3

Interact with CNBC-TV18: Devang Mehta recommends holding Bharti Airtel

Market expert Devang Mehta tells CNBC-TV18's Sumaira Abidi that Sakshi should hold the stock, but shouldn't buy more of it given the valuations and if she wants to play the telecom theme then should buy Idea.

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Sakshi, a Moneycontrol boarder from Ranchi has 100 shares of  Bharti Airtel at Rs 320. She wants to know whether she should hold or sell the stock.

Market expert Devang Mehta tells CNBC-TV18's Sumaira Abidi that Sakshi should hold the stock, but shouldn't buy more of it given the valuations and if she wants to play the telecom theme then should buy Idea .

"Bharti Aritel came up with the stable set of numbers today, but in the last three-four quarters, operationally nothing much is happening on the African front as well. The company had promised to make bigger profits from the African operations, which didn't happen. Also, the upcoming spectrum auction could be a hurdle for the stock. If at all it bids at a higher price then it would be taken as a negative by the market and if it is underpriced, even then it can be a problem.

Mehta has a hold rating on the stock with a target price of around Rs 360-370.

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