Sell rating for Bharti Airtel: Daljeet Singh Kohli

In a chat with ET Now, Daljeet Singh Kohli, HoR, IndiaNivesh, shares his views on Bharti Airtel.

ET Now: On the charts Bharti Airtel?

Daljeet Singh Kohli: Actually we have a sell rating there. Although most of our fall has already come in. We do not expect to see consolidated numbers becoming better. In terms off valuation, stock is now trading at 7.5 times EV to EBITDA, which is a higher multiple and it should not trade more than 6.5 times so that valuation comfort was not there that is why we initiated our sell call. From that level it has already come off 7%, so it may not be too much further to go down but we still have a negative view.