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.
As of 11.30 a.m. shares in Bharti Infratel traded 5.78 per cent higher at Rs 269.90 compared to 0.20 per cent gain in Nifty.