Buy Bharti Infratel, target price Rs 285: Reliance Securities

Reliance Securities has buy call on Bharti Infratel with a target price of Rs 285. The current market price of Bharti Infratel Ltd. is Rs 244.

Bharti Infratel Ltd., incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 44797.51 Crore) operating in Telecommunications sector.

Financials
For the quarter ended 30-09-2020, the company has reported a Consolidated sales of Rs 1766.40 Crore, up 8.01 % from last quarter Sales of Rs 1635.40 Crore and up 5.88 % from last year same quarter Sales of Rs 1668.30 Crore. Company reported net profit after tax of Rs 444.40 Crore in latest quarter.

Investment Rationale
Long positions can be initiated in the range Rs240 – Rs245 for a target of Rs285.

Promoter/FII Holdings
Promoters held 53.5 per cent stake in the company as of June 30, 2020, while FIIs held 40.6 per cent, DIIs 4.9 per cent and public and others 1 per cent.