Bharti Infratel shares soar on CLSA 'buy'

Correction in the stock overdone and valuations look attractive: Brokerage

Bharti Infratel shares surged more than six per cent on Friday after global brokerage CLSA gave a “buy” call on the stock. Shares of Bharti Infratel closed at Rs 307.6 apiece, up Rs 17.80 or 6.14 per cent.

This rally comes as a breather for Bharti Infratel’s scrips which have been under selling pressure ever since the news about a possible merger of Vodafone and Idea emerged. Bharti Infratel’s shares have lost nearly 13 per cent since January 27, when Idea officially confirmed the merger talks.

According to CLSA, the correction in Bharti Infratel is overdone as the investors are considering the