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Gladiator Stocks - Bharti Airtel Ltd - ICICI Direct

Posted On: 2021-09-08 14:55:16 (Time Zone: UTC)


Technical View

The telecom space has come in the limelight over the past month and Bharti Airtel remains at the forefront as the share price has recently resolved from multiyear consolidation supported by Cup & Handle continuance pattern indicating structural uptrend and outperformance, going forward

The longevity in uptrend is well supported by strong volumes at the time of consolidation breakout and makes us more confident

Fundamental View

Bharti Airtel (Airtel) is India's second largest telecom operator with a revenue market share of ~35% as on Q4FY21. The company has ~32.1 crore wireless customers in India and ~12.1 crore subscribers across operations in 14 African countries. It enjoys industry leading ARPU and margins in the wireless business

Fundraise - a move expanding growth war chest (to capture incremental market share and 5G foray) without stretching leverage is positive, in our view. We remain constructive on Airtel ascribing it as one of our top picks. Management guidance of sharp tariff increase by FY22 end will be a key catalyst

For details, click on the link below: Link to the report

Shares of Bharti Airtel Ltd. was last trading in BSE at Rs. 667.8 as compared to the previous close of Rs. 670.7. The total number of shares traded during the day was 773056 in over 19760 trades.

The stock hit an intraday high of Rs. 684 and intraday low of 665. The net turnover during the day was Rs. 521423128.


Source: Equity Bulls

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