Why Bharti Airtel shares hit new 52-week high? Brokerage raises target price
In Q2FY23, Bharti posted a consolidated net profit of ₹2,145 crore up by 89% yoy, while revenue from operations rose 21.9% yoy to ₹34,527 crore. EBITDA climbed by 6.7% yoy to ₹17,721 crore, while margins improved to 51.3%.
Telecom giant, Bharti Airtel shares ended near a fresh 52-week high on Monday. The heavyweight stock recorded a nearly 2% upside on exchanges on the company's 5G services rollout in some parts of the country. Airtel has also made a tariff hike in states like Haryana and Odisha circles in recent times, which ICICI Securities experts believe is a stunning move. Year-to-date, Airtel shares have climbed by a whopping 23% on Dalal Street.
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