Reliance Jio's high capital expenditure boosts Bharti Infratel scrip

Expected to get a big share of former's tenancy additions

The stock of Bharti Infratel, which manages telecom towers and communication structures for various mobile telephony operators, gained seven per cent over the past week. That was after brokerages upgraded it on expectation of higher orders from the Reliance Jio rollout, besides investor preference for companies with a stable revenue model.

Nomura, which has increased its target price by 20 per cent to Rs 396 for the scrip, said in a report earlier this month that it expected the company to garner a sizeable share of the rapid tenancy roll-out by Jio over the next few quarters. Which, it said,