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Buy Bharti Airtel; target of Rs 860: ICICI Direct

ICICI Direct is bullish on Bharti Airtel recommended buy rating on the stock with a target price of Rs 860 in its research report dated March 28, 2022.

March 28, 2022 / 12:08 PM IST
 
 
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ICICI Direct's research report on Bharti Airtel


Bharti Airtel (Airtel) is India’s second largest telecom operator with a revenue market share of ~37%. The company has ~32.3 crore wireless customers in India and ~12.6 crore subscribers across operations in 14 African countries. It enjoys industry leading ARPU in the wireless business.



Outlook


Favourable industry structure of three players (two being strong), government relief, tariff hike and fund raise puts Airtel in a sweet spot to maintain its relative strength with a formidable digital ecosystem offering. We maintain BUY rating with an SOTP target price of Rs 860.

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At 12:04 hrs Bharti Airtel was quoting at Rs 712.00, up Rs 2.75, or 0.39 percent.


It has touched an intraday high of Rs 720.85 and an intraday low of Rs 710.45.


It was trading with volumes of 116,579 shares, compared to its thirty day average of 213,412 shares, a decrease of -45.37 percent.


In the previous trading session, the share closed up 0.42 percent or Rs 3.00 at Rs 709.25.


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 8.94 percent below its 52-week high and 45.26 percent above its 52-week low.


Market capitalisation stands at Rs 398,015.06 crore.


For all recommendations report, click here

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first published: Mar 28, 2022 12:08 pm
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