te Bharti Airtel shares stock up 9% in 3 days – check brokerages view, target price here | Zee Business

Bharti Airtel shares stock up 9% in 3 days – check brokerages view, target price here

Surging for the straight third session, the shares of Bharti Airtel jumped 3 per cent to Rs 639.25 per share on the BSE intraday trade on Tuesday. This rally is mostly due to the company’s Chairman Sunil Bharti Mittal’s future plans and big announcements during the analyst call on Monday.

Bharti Airtel shares stock up 9% in 3 days – check brokerages view, target price here
On Monday, the second-largest telecom company’s chairman made some big announcements in analyst call: PTI

Surging for the straight third session, the shares of Bharti Airtel jumped 3 per cent to Rs 639.25 per share on the BSE intraday trade on Tuesday. This rally is mostly due to the company’s Chairman Sunil Bharti Mittal’s future plans and big announcements during the analyst call on Monday.

The stock in the last three sessions has surged around 9 per cent from Rs 587 per share on August 26, 2021. The counter at around 11:53 am has been trading over 2 per cent higher to Rs 632.75 per share as compared to a 0.25 per cent rise in the BSE Sensex on Tuesday.

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On Monday, the second-largest telecom company’s chairman made some big announcements with respect to ARPU (average revenue per user), monetisation, and tariff hikes. He said, the company aims to raise ARPU to Rs 200 in the financial year 2021-22 as compared to Rs 146 at present.

Similarly, the company’s board of directors on Monday also approved the fundraising plan of Rs 21000 crore through Rights Issue. “The board approved the issuance of equity shares of the face value of Rs. 5/- each of the company on rights basis to eligible equity shareholders”, it said in a filing. 

Even the majority of the brokerages are bullish on the stock post chairman’s big announcements. In this regard, Goldman Sachs says Airtel has a significant market share gain potential while reiterating a 'Buy' stance with a target of Rs 820 apiece and says, ARPUs may be materially higher before FY22.

CITI says the commitment of the promoters to the rights issue is positive, which is likely to inspire confidence within investors. The brokerage also maintains a Buy rating with a target of Rs 760 apiece.

Similarly, even CLSA maintains BUY call on Airtel with a target of Rs 780 per share. It sees upside potential to their forecasts for the company, stating valuations are compelling at the current level.  

Written By: Vaibhav Gautam Bansode
Edited By: Ravi Kant Kumar
Updated: Tue, Aug 31, 2021
12:28 pm
Mumbai, ZeeBiz WebDesk
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