'Bharti Airtel may look uphill now, but good stock long-term'

Ashit Suri, Fundamental Research Analyst, JV Capital Services

With these 3G auctions being there tomorrow, the bidding tomorrow obviously its going to be a very expensive affair almost $1.5 to $2 billion Pan India 3G licence which most probably Bharti is going to win. Do you think this is a good business case with these 3G licences or do you think this overbidding could actually cause a bit of a drain?

Ashit Suri: See its likely to cause a bit of a drain in the near term because this is the only way for these the telecom companies to grow ahead so it is something which is going to be of huge benefit going ahead but initially there going to be a lot of hiccups and lot of cost hits with the bargaining and the auctioning that is likely to happen. So in the near term things are not really going to look rosy but going ahead I feel that one could accumulate Bharti Airtel I am positive on the stock going ahead and looking at one to two years down the line.