Bharti has run-up, to book profits: Pankaj Pandey

In a chat with ET Now, Pankaj Pandey, Head Research, ICICIdirect.com, shares his views on Bharti.

ET Now: As a house, you have a strong buy recommendation on Bharti. Why should one buy into Bharti now because it is no longer a cheap stock?

Pankaj Pandey: We had a strong buy on Bharti. In fact around Diwali, we had recommended booking profits into the counter. We believe that the stock has run up fairly recently and overall going forward.

We still like this sector but we believe that there are still some more concerns on the spectrum pricing front which should eventually benefit incumbent players and though the clarity might put some pressure on the stock but we still believe that both Idea and Bharti should do well from current levels.

So for Bharti, we have a target price of 385.