India's Bharti Airtel is expected to announce strong Q1FY24 results with an 11 percent YoY revenue growth and a 17 percent rise in mobile EBITDA. Analysts predict a 60 percent YoY increase in net profit. Market experts, hold positive sentiments on the stock, suggesting a modified collar strategy for hedging. Amid optimism, caution and prudent strategies are advised to mitigate market uncertainties.
As many as 1,957 shares advanced, 1,434 declined and 132 shares remained unchanged on June 27.
The resolution of the RWN, which may take more than six months, requires clarity on the exact amount and timing of the payment of unpaid dues and whether the government will provide any financial relief to the telecom sector affected by the court ruling, it said.
Trends on SGX Nifty indicate a flat-to-negative opening for the broader index in India, a fall of 19 points or 0.16 percent. Nifty futures were trading around 11,654-level on the Singaporean Exchange.
The company last week set a price range of 80 to 100 pence per share for its initial public offering.
The proposed auction price will be a "serious impediment" to the uptake of 5G in India, said Rajan Mathews, director general of lobby group Cellular Operators Association of India (COAI).
Traders can accumulate the stock in a range of Rs 332-338 for the upside target of Rs 366 levels and a stop loss below Rs 310, says Shitij Gandhi of SMC Global Securities.
Cellphone operators are snatching up precious bandwidth in a government sale, paying top dollar for spectrum to roll out high-speed coverage across India. The fear among investors is that the companies' balance sheets may now be under pressure.
Following the Supreme Court of India’s (SC) order, dated February 2, 2012, cancelling 122 unified access service licences (UASL) granted to mobile service operators on or after January 10, 2008, CRISIL Ratings and CRISIL Research have released the statements respectively.
Ghana will next month allow mobile phone customers to switch network operators but keep their numbers, a move that will increase competition and quality of service, an industry regulator said on Friday.
Bharti Airtel Ltd, India's top mobile phone carrier, said on Monday it would launch Apple's iPhone 4 in India in the coming months.