Jefferies recommends 'buy' on Bharti Airtel; Lists three key takeaways for telecom services sector
Bharti Airtel's rural expansion strategy appears to be working as it outperformed Vodafone Idea and Reliance Jio in C circles by 90bps in market share. Consistent with its leadership in city-focused markets, Bharti maintained its lead in market share in both Metros and A-Circles, said Jefferies.
Bharti Airtel and Reliance Jio saw increases in their market shares of 95 basis points (bps) and 70bps in the second quarter of FY24 compared to FY23, according to a report by global brokerage Jefferies on the telecom services industry. Reliance Jio's rise in market share were mostly driven by B/C-Circles, whereas Bharti Airtel's gains were more evenly distributed, ranging from 90 to 130 bps overall.
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