Shares in Bharti Infratel on Tuesday surged as high as 6.2 per cent to a new year high of Rs. 271.75 after Credit Suisse maintained outperform on the stock.
The brokerage has maintained a target price of Rs. 300 on the stock. Credit Suisse believes Bharti Infratel’s earnings per share may increase by 6-17 per cent over FY16-17, led by better tenancy of its towers. The company will be a beneficiary of competition in the telecom sector, added Credit Suisse.