Bharti Airtel up 28% in two months, analysts see a further upside of up to 42%
1 min read.Updated: 12 Dec 2020, 09:45 AM ISTAvneet Kaur
CLSA sees a target price of ₹715 for Bharti Airtel stock, an upside of 41% from the current levels.
Motilal Oswal has set a target price of ₹650. Axis Securities has kept the target price at ₹657.
The shares of Bharti Airtel have gained 28% in the last two months. Bharti Airtel shares closed at a price of ₹505 on Friday. Robust earnings for the September quarter and a jump in the subscriber base aided the telecom operator's stock prices to soar. Analysts are bullish on the stock and recommend a 'Buy' rating to the share. CLSA sees a target price of ₹715 for Bharti Airtel stock, an upside of 42% from the current levels. Motilal Oswal has set a target price of ₹650. Axis Securities has kept the target price at ₹657.
Airtel has added 3.8 million subscribers in September, shows the latest Trai data. Reliance Jio added 1.5 million users in September. Vodafone Idea lost 4.6 million subscribers in the month.
Bharti Airtel narrowed its consolidated net loss to ₹763 crore in the second quarter, posting record consolidated revenue boosted by the continued recovery of its India business. Net sales or revenue was ₹25,785 crore, up 22% on-year in the second quarter, a seasonally weak quarter for the telecom sector.
The Department of Telecom has announced to release the details of 5G bands soon. Bharti Airtel founder Sunil Mittal claimed India won’t be ready for 5G services in the next 2-3 years, while billionaire Mukesh Ambani has urged the government to accelerate the auction of 5G spectrum.
DoT has indicated conducting spectrum auctions in January-March, but it is unclear whether airwaves for the 5G wireless service will be sold immediately.
Bharti Airtel is amongst the world’s largest telecommunications companies offering mobile, fixed broadband, digital TV solutions and mobile commerce to over 400 million customers across 18 countries including India, South Asia and Africa. It is headquartered in New Delhi, India.