ICICI Securities has given Buy recommendation for Bharti Airtel recommended buy rating on the stock with a target price of Rs 850 in its resear with a target price of Rs. 850 in its research report issued on Mar 28, 2022

ICICI Securities research report on Bharti Airtel

Bharti Airtel (Bharti) organised an analyst day on 25th Mar’22 to outline its growth plans and opportunities. It remains confident of sustaining strong revenue growth in mobile business and anticipates acceleration in non-mobile revenue growth in coming years. Digital business remains core for growth across both consumer and enterprise segments. Consumer business will benefit from rising adoption of digital properties by mobile users, which Bharti can monetise through ads and cross-selling. Also, enterprise segment looks more solid with CPaaS, data centre, IoT, and security & cloud. Bharti plans to achieve stronger growth in the payment bank business. We come convinced that 5G capex will have limited upside risk.

Outlook

Company plans monetisation of its payment bank and data centre businesses in the future, while digital and other businesses may remain under the Bharti Airtel umbrella. Maintain BUY.

More Info

At 14:47 hrs Bharti Airtel was quoting at Rs 755.00, up Rs 21.65, or 2.95 percent.

It has touched an intraday high of Rs 762.85 and an intraday low of Rs 737.05.

It was trading with volumes of 527,516 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed up 3.40 percent or Rs 24.10 at Rs 733.35.

The share touched its 52-week high Rs 781.90 and 52-week low Rs 504.78 on 24 November, 2021 and 01 April, 2021, respectively.

Currently, it is trading 3.44 percent below its 52-week high and 49.57 percent above its 52-week low.

Market capitalisation stands at Rs 422,052.49 crore.

Leave a Reply

Your email address will not be published.