Bharti Airtel shares gain on positive outlook by a global brokerage

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The telecom operator on March 17 said it has acquired radiowaves worth Rs 18,699 crore in the latest spectrum auction. The telco has acquired 355.45 MHz spectrum across Sub GHz, mid band and 2300 MHz bands, giving it “most formidable” spectrum holding in the country, Airtel said in a statement.

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Bharti Airtel share price was trading in the green, up almost a percent in the morning session on March 19 after global research firm Morgan Stanley maintained buy call on the stock.

The global research firm has retained its overweight call on the telecom major with a target of Rs 760 per share. It is of the view that external validation of Valn to Africa Mobile Money business is a value unlocking step, according to a CNBC-TV18 report.

“Uptick in SOTP of Bharti Airtel may not be material given mobile money’s low EBITDA contribution,” it added.

The stock was trading at Rs 529.50, up Rs 3.50, or 0.67 percent at 09:36 hours. It has touched an intraday high of Rs 531.80 and an intraday low of Rs 525.90.

Also Read: TPG’s Rise Fund to invest $ 200 million in Airtel Africa mobile money business

Investment firm TPG’s Rise Fund will invest $ 200 million in Airtel Africa’s mobile money business at a valuation of $ 2.65 billion, Bharti Airtel said on March 18.

Airtel Mobile Commerce BV is currently the holding company for several of Airtel Africa’s mobile money operations, and is now intended to own and operate the mobile money businesses across Airtel Africa’s 14 operating countries.

The Rise Fund will hold a minority stake in AMC BV upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake.

Also Read: Bharti Airtel acquires radiowaves worth Rs 18,699 crore in the latest spectrum auction

The telecom operator on March 17 said it has acquired radiowaves worth Rs 18,699 crore in the latest spectrum auction. The telco has acquired 355.45 MHz spectrum across Sub GHz, mid band and 2300 MHz bands, giving it “most formidable” spectrum holding in the country, Airtel said in a statement.

All of the spectrum will enable Airtel to deliver 5G services in future, it added.

Bharti Airtel added 5.9 million wireless subscribers during in January 2021. Airtel’s market share widened to 29.62 percent in January while Reliance Jio retained its spot of being the largest telco by market share at 35.30 percent .

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