Buy Bharti Airtel; target of Rs 860: ICICI Direct

Trading Calls - Equity F&O

ICICI Direct is bullish on Bharti Airtel recommended buy rating on the stock with a target price of Rs 860 in its research report dated November 23, 2021.

Broker Research

November 23, 2021 / 02:29 PM IST

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ICICI Direct’s research report on Bharti Airtel

Bharti Airtel (Airtel) announced a tariff hike in its prepaid segment with ~20% tariff hike across the board, ~25% hike in base entry level 2G tariff (from Rs 79 to Rs 99) with effect from November 26, 2021 – (details on page 2) • The company indicated that tariff hike was taken to “provide a reasonable return on capital that allows for a financially healthy business model and that this level of ARPU will enable the substantial investments required in networks and spectrum, including 5G.

Outlook

We remain constructive on Airtel and maintain BUY rating with a revised SOTP target price of Rs 860.

For all recommendations report, click here

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