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Last Updated : Apr 27, 2018 04:28 PM IST | Source: Moneycontrol.com

Buy Bharti Airtel; target of Rs 520: Sharekhan

Sharekhan is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 520 in its research report dated April 25, 2018.

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Sharekhan's research report on Bharti Airtel


The  consolidated  revenue of Bharti Airtel (Airtel) declined by 3.3% on a sequential basis (down 10.3% y-o-y) to Rs. 19,710 crores in Q4FY2018, broadly in-line with expectations. The  decline  in  overall  revenues was  mainly  due  to  the  ongoing  tariff  war  with  RJio,  3.3%  q-o-q/13.1%  y-o-y  drop  in  India business and disinvestment  in some of assets in Africa and Bangladesh.  Africa  (14  countries)  reported   revenue   growth   of   1%   q-o-q/10.7%  y-o-y on constant currency terms,

Outlook

The recovery in ARPU is still some time away and we expect the African business to strengthen profitability.Given the consistency in execution despite challenges, we maintain our Buy rating on the stock with a revised price target of Rs. 520.

For all recommendations report, click here


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First Published on Apr 27, 2018 04:28 pm
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