Do not invest in Bharti Airtel at this point in time: Angel Broking

In a chat with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking, shares his views on telecom sector.

ET Now: What is your call on Bharti Airtel?

P Phani Sekhar: Stay away, because I do not know if they have been a bit late to come to the street with their tower IPO. Of course, it always helps the tower companies if reforms were to happen to 1800 MHz because it requires more towers. But having said that, that will also hurt the parent Bharti Airtel.

So as an investor, these are not good times to invest in telecom especially when you are aware about what is happening to the sales numbers and reduction of mobile ubscribers as well. First time in a decade you saw it dipped, that is the last thing that you want to see on any company which is already going through so many regulatory hurdles. So it is relatively straight forward no to investing in Bharti Airtel at this point in time.