Global research firm CLSA is upbeat on Bharti Airtel as it has maintained a buy call on the stock with a target of Rs 500. The firm sees an upside potential of 31 percent on the stock.
The stock touched an intraday high of Rs 384.35 and an intraday low of Rs 376.00.
It highlighted that how content is the key for the firm beyond tariffs to defend market share. It also said that adoption of data and bundled plans is the key to recovery in average revenue per user (ARPU).
The company further observed that since Jio’s launch, Bharti Airtel has defended its market share well.
The company was in the news recently when its shareholders approved the proposed merger between the company and Tata Teleservices as part of ongoing proceedings at the National Company Law Tribunal (NCLT).
The special resolution to approve the proposed composite scheme of arrangement between Tata Teleservices, Bharti Airtel and Bharti Hexacom received 99.97 per cent voting in favour of the resolution, Bharti Airtel said in a regulatory filing.
There was 100 per cent voting in favour of the resolution from the promoter and promoter group, as well as public - institutions category.
About 99.97 per cent votes were cast in favour of the proposal by the public non-institutions shareholders, it added.
At 13:46 hrs, Bharti Airtel was quoting at Rs 377.70, down Rs 4.90, or 1.28 percent, on the BSE.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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