Brokerage house Antique Broking has initiated coverage on Bharti Airtel with a ‘buy’ call and a target price of ₹1,505, implying an over 22 percent upside.
Bharti Airtel chairman Sunil Bharti Mittal’s statement reiterating the ARPU target of Rs 300 also seems to have bolstered the sentiment around the stock.
RJio IPO: CLSA said with a likely RJio IPO ahead, which the RIL management talked of in 2019 would be a rerating catalyst for Bharti. Its target of Rs 1,110 for Bharti Airtel translates to 10 times EV/Ebitda for India operations.
Bharti Hexacom IPO: The government of India through Telecommunication Consultants of India Limited (TCIL) owns the rest 30 per cent of the equity share capital of the company.