Bharti Airtel has been a consensus overweight stock for institutional investors. But it has turned out to be a big disappointment for them over the past months.

People are betting on things turning around, but so far they have not. However, Naveen Kulkarni, CIO of Axis Securities suggests that Bharti Airtel's valuations are reasonable and prospects are strong.

Bharti Airtel appears attractive at current levels, Kulkarni told CNBC-TV18.

Also, watch Fitch Ratings’ Nitin Soni’s views on the telecom sector.