Home >Markets >Stock Markets >Bharti Airtel share price near 52-week high. Experts see more upside

Bharti Airtel share price: On account of all-round good performance in Q1FY22, Bharti Airtel shares today came close to its 52-week high — logging more than 6 per cent intraday gain. Bharti Airtel share price today shot up more than 40 and hit 614 — its intraday high against its previous day's close of 574 per stock levels at NSE. According to stock market experts, this rise in Bharti Airtel stocks is due to the strong first quarter results where the company reported 5 per cent Q-o-Q rise in EBITDA, which was much higher than the market estimates of 4 per cent. Experts went on to add that Bharti Airtel share price is still bullish and will make a fresh breakout once it breaks the immediate hurdle of 620 to 625.

Highlighting the reasons for rise in Bharti Airtel share price; Naval Seth, Research Analyst at Emkay Global Securities said, "While the recent tariff hike was a step in the right direction, the same in the mass prepaid segment continues to be the crucial lever for balance-sheet deleveraging and re-rating. Sustained improvement in data subscription base (60.1 per cent vs. 53.3 per cent in Q1FY21), the highest-ever home broadband subscription adds and an increase in FCF generation to 47 bn were the key positives."

Expecting fresh rise in Bharti Airtel shares; Sumeet Bagadia, Executive Director at Choice Broking said, "Bharti Airtel has strong support at 580 levels. If the stock breaks its immediate hurdle of 620 to 625, then there will be fresh break out where one can buy the counter keeping stop loss below 620 for fresh targets. However, in case profit booking happens in the counter then one can buy the counter around 600 levels for the short-term target of 625 to 650 keeping stop loss at 580."

Naval Seth of Emkay Global said that in Q1FY2021-22, Bharti Airtel's increase in net debt can be attributed to deferred spectrum obligations.

Asked about his views on Bharti Airtel shares in long-term Naval Seth of Emkay Global Securities said that one can buy the counter at CMP for 12 months target of 730.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout