Bharti Airtel Share: The company added 2.74 lakh mobile subscribers in September, according to data released by telecom regulator TRAI on Monday.
The company has hiked prepaid tariffs by 20-25 percent effective November 26.
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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Bharti Airtel share price rose in the early trade on November 23 a day after the company revised mobile tariffs for the prepaid customers.
Bharti Airtel announced revised mobile tariffs for the prepaid plan. The company has hiked prepaid tariffs by 20-25 percent effective November 26, company said in the release on November 22.
The company added 2.74 lakh mobile subscribers in September, according to data released by telecom regulator TRAI on Monday.
The subscriber base of Airtel stood at 35.44 crore in September as against 35.41 crore users in August.
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Here is what brokerages have to say about the stock and the company post recent tariff hike by the company:
CLSA
Research firm CLSA has kept buy rating on the stock with a target at Rs 863 per share.
According to research firm, the prepaid data hikes could boost India mobile revenue by 14 percent, while entry tariff hike could boost revenue by another 5 percent.
It see upside risk to forecast of Rs 199 ARPU by FY24 and the stock remains its top pick.
Jefferies
Broking house has maintained buy call and raised the target price to Rs 925 from Rs 860.
The focus is moving towards boosting the realisations. The Bharti’s 20-50 percent premium offers major headroom for Jio to hike tariff.
Jefferies raises its India mobile estimates by 8-15 percent and expect company to deliver 21 percent consolidated EBITDA CAGR in FY22-24.
JPMorgan
JPMorgan has remained overweight with a target at Rs 830 as the research house feels that tariff hike to drive an 18 percent increase in ARPU & revenue.
It see a rise of 24 percent in EBITDA in India wireless in FY23/24, while impact on FY22 could be 6 percent on revenue/APRU & 8 percent on EBITDA.
Citi
Broking firm Citi has maintained buy rating with a target at Rs 820, as the sharp 20-25 percent tariff hike announced is ahead of expectations.
However, the response of Jio awaited, though it’s possible, company also raises its tariffs.
The tariff hikes could also help Vodafone Idea with its much-delayed capital raise plan.
Credit Suisse
According to Credit Suisse, Airtel takes lead in tariff hikes. The tariff hikes, if it sustains, are 6 percent above existing FY23 ARPU estimates for Airtel.
It maintain preference for Airtel, as it is favourably placed to benefit from expected industry repair.
Motilal Oswal
We expect 24 percent CAGR in consolidated EBITDA over FY21-24E on the back of 31 percent CAGR in Mobile India EBITDA, aided by ARPU growth as a result of the tariff hike.
We see potential for a re-rating in both the India and Africa business on the back of steady earnings growth.
We value Bharti on a Sep’23E basis, assigning an EV/EBITDA of 10x/4x to the India Mobile/Africa business, arriving at a SoTP based target price of Rs 920. We maintain our buy rating.
At 09:17 hrs Bharti Airtel was quoting at Rs 742.50, up Rs 0.45, or 0.06 percent on the BSE.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
