Geojit recommended has given Is bullish on Bharti Airtel has recommended buy recommendation for Bharti Airtel with a target price of Rs. 788 in its research report issued on Feb 15, 2022

Geojit’s research report on Bharti Airtel

Bharti Airtel Limited is a leading global telecommunications company with operations in 16 countries across Asia and Africa. The company had around 485mn customers across its operations at the end of Q3FY22. Consolidated revenue for the quarter 3QFY22 grew by 12.6% YoY (+5.4% QoQ) on the back of solid execution. EBITDA for the quarter increased by 23.6% YoY to Rs. 14,900cr as a result of improved margins and stronger sales. EBITDA margin expanded 440bps YoY to 49.9% (+110bps QoQ) on lower access fees.


We see strong potential in India and Africa businesses on the back of steady growth, expected increase of ARPU across the industry and tariff hikes. Hence, we reiterate our BUY rating on the stock with a rolled forward target price of Rs. 788 based on SOTP valuation.

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At 17:30 Bharti Airtel was quoting at Rs 721.40, up Rs 10.05, or 1.41 percent.

It has touched an intraday high of Rs 728.00 and an intraday low of Rs 707.70.

It was trading with volumes of 203,539 shares, compared to its thirty day average of 228,203 shares, a decrease of -10.81 percent.

In the previous trading session, the share closed up 3.39 percent or Rs 23.30 at Rs 711.35.

The share touched its 52-week high Rs 781.90 and 52-week low Rs 490.15 on 24 November, 2021 and 25 March, 2021, respectively.

Currently, it is trading 7.74 percent below its 52-week high and 47.18 percent above its 52-week low.

Market capitalisation stands at Rs 403,269.76 crore.

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