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MUMBAI: Shares of telecom companies like Bhatia Airtel, Idea Cellular and Reliance infrastructure were in the fire after reports that Credit Suisse Group has upgraded its ratings citing better environment.

"Spirited environment improved way label prices steady for the past eight months. 3G High payouts have crimped the aptitude of challengers to go to another cost war. In this background, we raise our movable margins predictable 200-300 bp over FY11-12.

We consider that Bharti (target price Rs 360) and Idea (target price Rs 75) might give us a 27-30% advantages from current levels, thus improvement them to exceed "the report says.

The FII Reliance infrastructure has upgraded to "unbiased" from "the sprinter."

For the 1123's, was Idea Cellular at Rs 66.55, up Rs 7.45, or 12.61 per cent on NSE. The hit intraday high of Rs 67.65 and low of Rs 59.50.