Value investor Arun Mukherjee shares a very interesting insight for those who keep looking for a new multibagger. "Often your past multibaggers will be your future multibaggers. The worst mistake is to perceive it to be overvalued and move on to something inferior with hopes of multifold returns only to be disappointed."
Global index provider MSCI on Thursday said it will take a decision on increasing the weightage of Bharti Airtel at upcoming index review in February. The move follows increase in foreign investment limit in the telecom major from 49 per cent to 100 per cent. “The proforma foreign ownership limit and upward movement of the adjustment factor due to foreign room will be implemented as part of the upcoming February 2021 Quarterly Index Review (QIR). The proforma foreign inclusion factor will be announced along with the scheduled February 2021 QIR announcement, on February 9. All changes will be implemented as of the close of February 26 (effective March 1),” the index provider said in an announcement.
Shares of Bharti Airtel hit an over 5-month high of Rs 565, up 3 per cent on the BSE on Tuesday, on strong earnings outlook, steady 4G subscriber additions which are likely to see 2-3 per cent quarter on quarter (QoQ) average revenue per user (ARPU) growth and strong EBITDA (earnings before interest, taxes, depreciation, and amortization) growth, analysts said. The stock of the telecom services provider was trading at its highest level since August 10, 2020. Moreover, it is 8 per cent away from its 52-week high of Rs 612 touched on May 20, 2020. In the past six months, Bharti Airtel has underperformed the market by falling 2 per cent, as compared to a 35-per cent rally in the S&P BSE Sensex. However, in the past one year, it has rallied 23 per cent, as against a 18-per cent gain in the benchmark index.