What are the reasons behind Bharti Airtel's under-performance?
1) After the AGR Verdict its clear that the Indian market will be a 3 player market v/s earlier expectation of duopoly (JIO & Bharti).
2) Time n again Mr Mittal has said that the low ARPU's are not sustainable and thus a price hike is imminent which is not seen coming anytime soon.
3) Vodaidea went for Rs.25,000 cr fund raise which quashed Bharti's hope for a duopoly market.