te Will Vodafone Idea's loss bring gains for Bharti Airtel? Analysts says this on growth outlook as Airtel shares gains 8% on Thursday | Zee Business

Will Vodafone Idea's loss bring gains for Bharti Airtel? Analysts says this on growth outlook as Airtel shares gains 8% on Thursday

Will the uncertainty prevailing within the Vodafone Idea help Bharti Airtel? As Vodafone Idea shares plunged today, shares of Bharti Airtel swelled by around 8 per cent to hit an over six-month high of Rs 619.2 per share on the BSE in intra-day trade on Thursday, in an otherwise range-bound market.

Will Vodafone Idea's loss bring gains for Bharti Airtel? Analysts says this on growth outlook as Airtel shares gains 8% on Thursday
The counter in the last three weeks has surged 17 per cent

Will the uncertainty prevailing within the Vodafone Idea help Bharti Airtel? As Vodafone Idea shares plunged today, shares of Bharti Airtel swelled by around 8 per cent to hit an over six-month high of Rs 619.2 per share on the BSE in intra-day trade on Thursday, in an otherwise range-bound market.

Analysts believe, a likelihood of two players in the telecom industry along with the recent hike in tariff and superior digital play in the medium to long term are positives that will help the stock to surge, going forward.

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Airtel scrip closed over 4.3 per cent higher to Rs 599 per share on the BSE, as compared to a 0.23 per cent rise in the BSE Sensex. The stock was trading at its highest level since February 11, 2021, and had touched a 52-week high of Rs 623 on February 4, 2021. 

The counter in the last three weeks has surged 17 per cent, as compared to a 2.3 per cent rise in the S&P BSE Sensex. 

The way Supreme Court’s verdict on AGR dues impacted Vodafone Idea shares, it had a marginal impact on Airtel shares, and it declined for mere 1 per cent, however, eventually gained at the market end during last Monday’s session (July 27, 2021).

The telecom major on Tuesday (August 3, 2021) reported a 62.7 per cent sequential decline in consolidated net profit to Rs 284 crore for the quarter ended June. It had posted a loss of Rs 15,933 crore in Q1FY21.  While the revenue for the quarter stood at Rs 26,854 crore, while EBITDA was at Rs 13,189 crore and came at around 49.1 percent during the quarter under review.

Bharti Airtel is India’s second-largest telecom operator, with a revenue market share of 35 per cent as of Q4FY21. The company has 321 million wireless customers in India and 121 million subscribers across operations in 14 African countries. It enjoys industry-leading ARPU (average revenue per user) and margins in the wireless business.

Reported By: ZeeBiz WebTeam
Written By: Vaibhav Gautam Bansode
Edited By: Shivendra Kumar
Updated: Thu, Aug 05, 2021
07:28 pm
Mumbai, ZeeBiz WebDesk
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