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Last Updated : Jul 02, 2020 04:38 PM IST | Source: Moneycontrol.com

Buy Bharti Airtel; target of Rs 693: Geojit

Geojit recommended is bullish on Bharti Airtel recommended buy rating on the stock with a target price of Rs 693 in its research report dated Jun 30, 2020.

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Geojit's research report on Bharti Airtel

Consolidated revenue rose to Rs. 23,723cr (+15.1% YoY), supported by Mobile services from India (+21.8% YoY) and Africa (+17.7%) and, Airtel businesses (+12.4%). EBITDA grew 54.2% YoY with improved margins (+10.9pps to 43.0%) driven by lower costs and increased ARPU. The company expects ARPU to reach Rs. 300 in long-term, driven by new connections and upgradation of 2G/3G to 4G.


With strong growth in broadband connections and postpaid customers, we reiterate our BUY rating on the stock with a revised target price of Rs. 693 based on SOTP methodology.

For all recommendations report, click here

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First Published on Jul 2, 2020 04:38 pm