Bank of America-Merrill Lynch upgraded Bharti Airtel and Idea Cellular to 'buy' from 'neutral' citing the positive outcome of the 2G auction this week.
BoA-Merrill said the "deep" under-performance in
Bank of America-Merrill Lynch upgrades Jet Airways and SpiceJet to buy from underperform, saying improving industry trends such as signs of ticket price hikes and reduced capacity will improve profitability.
Merrill Lynch agreed to sell itself to Bank of America for $50b to avert a deepening financial crisis, while Lehman Brothers, said it would seek bankruptcy protection and hurtled toward liquidation after failing to find a buyer.
Merrill Lynch & Co, troubled by a $31.7 billion in write-offs due to widespread defaults by sub-prime mortgage borrowers in the US, now sees India as one of the most attractive places in the world for
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