Motilal Oswal has given Buy recommendation for Bharti Airtel recommended buy rating on the stock with a target price of Rs 920 in its research re with a target price of Rs. 920 in its research report issued on Jan 28, 2022

Motilal Oswal’s research report on Bharti Airtel

In a strategic move, Google will invest up to USD1b in a partnership with Bharti Airtel as part of its Google for India Digitization Fund. The deal includes an investment of USD700m (INR52.24b) to acquire 71.2m shares at INR734/share, implying 1.3% stake in Bharti Airtel on a diluted basis. Additionally, it will invest up to USD300m toward commercial agreements over the next five years.

Outlook

We see an additional EBITDA potential of INR100b if VIL is unable to infuse large-scale capital and improve its ARPU/revenue to sustainable levels. Strong earnings growth could drive healthy FCF of INR425.7b/INR488.1b in FY23E/FY24E as it may outpace the capex requirement.

More Info on Trent

At 17:30 Bharti Airtel was quoting at Rs 722.75, down Rs 6.65, or 0.91 percent.

It has touched an intraday high of Rs 735.00 and an intraday low of Rs 718.30.

It was trading with volumes of 278,852 shares, compared to its thirty day average of 211,137 shares, an increase of 32.07 percent.

In the previous trading session, the share closed up 1.89 percent or Rs 13.50 at Rs 729.40.

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 7.56 percent below its 52-week high and 47.45 percent above its 52-week low.

Market capitalisation stands at Rs 404,024.42 crore.

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