Buy Bharti Airtel, target price Rs 840: Yes Securities

Yes Securities has buy call on Bharti Airtel with a target price of Rs 840. The current market price of Bharti Airtel is Rs 782.1. Yes Securities recommended to keep stop loss at Rs 733.

Bharti Airtel, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 463282.98 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 34728.70 Crore, up 5.25 % from last quarter Total Income of Rs 32996.80 Crore and up 22.13 % from last year same quarter Total Income of Rs 28435.20 Crore. Company has reported net profit after tax of Rs 2622.20 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 31-12-2022, the company has a total of 596 Crore shares outstanding.

Investment Rationale
The stock has held levels of Rs 755 in the recent past. Positive follow-up action above Rs 780 could resume.

Promoter/FII Holdings
Promoters held 55.12 per cent stake in the company as of 31-Dec-2022, while FIIs owned 21.7 per cent, DIIs 18.99 per cent.