CLSA has maintained its buy rating on the stock with target at Rs 780 per share while Citi also has a buy call on the stock with target at Rs 760 per share.
The Sensex and Nifty 50 posted record closing highs, supported by broad-based buying in bluechip counters. All sectors barring IT inched higher in trade. Index heavyweights - Bharti Airtel, Axis Bank, Tata Steel, Titan, Maruti, Bajaj Finance, SBI, Asian Paints and RIL were among the top gainers.
For every Rs 100 of revenue, Rs 35 go in various forms of levies. We hope that as we step up and do our part, the government will also favourably look at some of the genuine demands of the industry, enabling a multiplier effect and positive outcome, Mittal said in an investor call on the companys fundraising plans.
The capital raising announcement, though unexpected and surprising, would enable Airtel to enhance its market share and provides it wherewithal to make faster investment in a scenario India moves to a two-player market earlier than expected, some analysts felt.
The founder and chairman of Bharti Enterprises noted that the leverage was bothering investors and the company. He also remarked that 5G will become a reality in the second half of next year and that Bharti Airtel bets on 5G.
The companys board has approved the right issue price at Rs 535 per fully paid-up share, including a premium of Rs 530
Bharti Airtel to hold investor call on August 30 post Rs 21,000 crore rights issue approval by board
The investors call will be chaired by Bharti Airtel Chairman Sunil Bharti Mittal at 2:30-3:30 pm.
The telecom majors board approved the right issue price to be set at 535 per fully paid-up equity share including a premium of Rs 530 per equity share.
Foreign research house Jefferies has maintained buy call on Bharti Airtel.
The announcement, which is pursuant to the Sebi Regulations, 2015, comes at a time when Airtel, along with rival Vodafone-Idea (Vi), is reeling under financial challenges.
A Department of Telecommunications notice, issued to Bharti Airtel on August 17, warned that failure to make payment will result in invocation of its bank guarantees.
Jefferies has maintained its buy call on the stock with target at Rs 685 per share. Market share shifts continued towards Bharti Airtel and Reliance Jio. Vodafone Ideas fragile state should accelerate market share shifts towards Bharti and Jio, it said.
Blue chip companiesâ€™ - TCS, Reliance Industries, HCL Tech, HDFC Bank, Bajaj Finance, and Bharti Airtel drove benchmark indices higher as mid and small cap indices ended in the red.
ICICI Direct is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 720 in its research report dated August 05, 2021.
Airtel Office Internet plans start at Rs 999 with a range of add-on services like Static IPs and parallel ringing.
Bharti Airtel reported a net profit of Rs 284 crore and revenue of Rs 26,854 crore in the June quarter
EBITDA stood at Rs 13,189 crore while the EBITDA margin was 49.1 percent during the quarter under review.
Apart from the numbers, investors will await any update on tariff hikes and the 5G rollout. The companys capex plans, if any, will also be keenly observed.
Bharti Airtel Q1 results preview: COVID-related stress, update on tariff hike, 5G rollout to be in focus
Bharti Airtel Q1 results preview: Brokerage firms are of the view that the companys Q1 scorecard may show signs of pressure with overall revenue and ARPU shrinking.
According to its latest data, even the overall fall nationally for Airtel stood at 1.3 per cent. For every circle to have exactly the same extent of fall is curious.
Although both Airtel and Vodafone Idea suffered massive subscriber losses in May, Jio added 35.54 lakh mobile users during the month, raising its subscriber base to 43.12 crore.
The Rs 75 Jio prepaid plan, which has a validity of 28 days, provides users with 300 minutes of free voice call, along with 0.1 GB high-speed and 50 free SMS per day.
Bharti Airtel has discontinued its Rs 49 entry-level prepaid recharge and the minimum prepaid packs will now start from Rs 79
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