Bharti Airtel gets bullish ratings from Brokerages: Telecom giant Bharti Airtel's Q2 results were mixed. The company's revenue and margins were better than anticipated. But profit was lower than expected due to increase in finance cost. The best part for the company was that the ARPU increased to 190 for the sixth consecutive quarter. The company made a profit of Rs 2,145 crore in the second quarter of FY23. On a quarterly basis, the company's profit has increased to Rs 2145 crore from Rs 1610 crore in the previous June quarter. BHARTI AIRTEL's income jumped to Rs 34,530 crore in the September quarter. Whereas the company's income for the June quarter was Rs 32,800 crore. After the results are out, most brokerages have asked to buy on it. Know the perspective of brokerages
JPMORGAN on Bharti Airtel: Overweight Call: target rose to 860 per share
JPMORGAN has given overweight rating on BHARTI AIRTEL. He has also increased its target to Rs 860 per share. He says that the company will continue to benefit from premiumization & BS delivery. The share of the company is increasing continuously. An improvement in its ARPU may lead to its re-rating.
GS On Bharti Airtel: Buy Call: Target At 880/Share
GS has given a buy rating on Bharti Airtel and they have set a target of Rs 880. He says that the company will increase the tariff once a year.
CLSA on Bharti Airtel: Buy Call: Target at 930/ Share
CLSA has said on Bharti Airtel that they have fixed its target price at Rs 930 per share by giving buy rating on it. The stock is expected to remain bullish even after the second quarter results.
Citi on Bharti Airtel: Buy Rating: Target Rose To 955 from 860 per Share
Citi has given a buy rating on Bharti Airtel. They have fixed its target from Rs 860 to Rs 955. He says its second quarter results were better than expected. The growth in revenue was estimated at 2.5 percent, while it showed a growth of 5 percent.
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