Sharekhan is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 540 in its research report dated December 02, 2019.
Sharekhan's research report on Bharti Airtel
Bharti has announced to increase tariffs of its prepaid services by 15-50%; the quantum is higher than expectations. RJio has indicated that it will take tentative price hike of 40% and will provide 300% more benefits; RJio’s decision to increase tariff is positive for the industry. With a blended ARPU improvement of 20-23%, we expect an EBITDA increase of ~Rs. 3,300 crore and ~Rs. 8,500 crore in FY2020E and FY2021E, respectively, and increase in fair value.
We maintain our Buy rating on Bharti Airtel (Bharti) with a revised PT of Rs. 540.
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