Bharti Airtel to reduce roaming and STD charges by 40%; Angel Broking maintains Buy rating

Bharti Airtel has started another price war by reducing the STD and roaming costs for its subscribers. Market experts believe that the move from Telecom major to reduce its tariff by 40% will leave other operators with no option but to reduce their charges as well.

Angel Stock Broking has maintained BUY rating for Bharti Airtel. The 12-month price target for the stock is at Rs 1125.

Bharti reported a 14.4% growth on quarterly basis for the quarter ending March 2008. Bharti has reported a robust growth in subscriber numbers. The stock closed at Rs 927 on Monday after registering marginal gains. The stock has touched a 52-week high of Rs 1184 and a 52-week low of Rs 606 on NSE.

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