Due to continued hyper competition in the sector along with risk from jio, uncertainty over sustainability of its key customer base & lack of clarity on postmerger entity, we have a neutral stance on BHIN. Bharti Infratel Ltd (BHIN) is one of the leading telecom tower infrastructure player with 92,277 towers across 22 telecommunication circles in India. Backed by parent Bharti and by virtue of 42% stake in Indus Towers, BHIN shares a strong...