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    Buy Bharti Airtel, target price Rs 940: JM Financial

    Synopsis

    Bharti Airtel, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 475335.02 Crore) operating in Telecommunications sector.

    Bharti AirtelETMarkets.com
    Promoters held 55.02 per cent stake in the company as of 31-Mar-2023, while FIIs owned 20.97 per cent, DIIs 19.72 per cent.
    JM Financial has buy call on Bharti Airtel with a target price of Rs 940. The current market price of Bharti Airtel is Rs 798.05. Time period given by analyst is 12 months when Bharti Airtel price can reach defined target.

    Bharti Airtel, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 475335.02 Crore) operating in Telecommunications sector.

    Bharti Airtel key Products/Revenue Segments include Service Revenue and Sale of Products for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 36293.90 Crore, up .64 % from last quarter Total Income of Rs 36062.00 Crore and up 15.15 % from last year same quarter Total Income of Rs 31518.90 Crore. Company has reported net profit after tax of Rs 3625.00 Crore in latest quarter.

    The company’s top management includes Mr.Sunil Bharti Mittal, Mr.Shyamal Mukherjee, Mr.Dinesh Kumar Mittal, Ms.Kimsuka Narasimhan, Mr.V K Viswanathan, Ms.Nisaba Godrej, Mr.Manish Kejriwal, Ms.Chua Sock Koong, Mr.Tao Yih Arthur Lang, Mr.Rakesh Bharti Mittal, Mr.Gopal Vittal, Mr.Pradeep Kumar Sinha. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2023, the company has a total of 597 Crore shares outstanding.

    Investment Rationale
    The brokerage maintains BUY on Bharti(unchanged TP of INR 940) as it expect tariff hikes to be more frequent, going forward, as the industry requires an ARPU of INR 256-285 in the next 3-5 years for a pre-tax RoCE of 12-15% to justify 5G rollout.

    Further, the brokerage expects Bharti’s India wireless ARPU to grow at a CAGR of ~9% to INR 288 in FY28; hence, it estimates consolidated EBITDA CAGR of ~14% overFY23-28.

    Promoter/FII Holdings
    Promoters held 55.02 per cent stake in the company as of 31-Mar-2023, while FIIs owned 20.97 per cent, DIIs 19.72 per cent.



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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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