Bullish on Bharti AIrtel: Pankaj Pandey, ICICI Direct

Pankaj Pandey, Head Of Research, ICICI Direct, in a chat with ET Now, gives his views on telecom stocks


What is happening in the telecom pack?

In the telecom front we like Bharti with the target price of Rs 448. In telecom stocks if you look at subscriber number additions have taper down. For a Bharti we have seen that the subscriber numbers additions and for industry in general is definitely on the lower side and it is more sort of a planned strategy by most of the players but for Bharti what could really click in the long term is that the way they have managed their cost in the domestic side, if they are able to repeat overseas that will be a big kicker from a longer term perspective. Having said that in the near term you could see concerns from the new telecom policy front plus news flows which might drive the stock down. But that should be taken as a good opportunity to buy these stocks and to be held for a longer period of time.