Latest broker research reports
with
buy recommendations along with share price targets forecast and upside.
Browse thousands of reports and search by company.
Broker Research reports: Buy reports
for Sector - Telecom Services
About the stock: Bharti Airtel (Airtel) is India's second largest telecom operator with ~36.4 crore wireless customers in India and ~17.4 crore subscribers across 14 African countries. It enjoys industry leading ARPU in the wireless business in India. Q2FY26 Performance: Consolidated topline at 52145 crore, was up 5.4% QoQ and up 25.7% YoY. India wireless revenues were up 2.6% QoQ and 13.2% YoY at 27397 crore, driven by heathy Average Revenues per User (ARPU), which came at 256, up 2.2% QoQ and ~9.8% YoY. The key highlight was strong post-paid subscriber addition of ~0.95 mn subscribers at 27.5 mn. It witnessed robust 4G/5G...
Bharti Airtel (Bharti)’s Q2FY26 print was impressive. The company reported a commendable performance across segments, incremental EBITDA margin in the mobile segment, higher consol. FCF (after finance cost) of INR 152bn and pre-tax RoCE at 19.7% in Q2FY26-annualised.
Indus Towers (Indus) reported strong results, with slightly higher revenue than street estimate and 50bps QoQ rise in EBITDA margin, adjusting for provision reversal.
Tata Communications’ (TCom) Q2FY26 EBITDA performance was modest, and partly restricted from one-time adjustment in TCR. Orderbook (OB) continues to be healthy with strong sales funnel.
Airtel experienced a strong performance in Q1FY26, supported by growth in ARPU, increase in the number of smartphone users, improved growth in home business and a rebound in the African business. The company's effective execution of portfolio premiumisation and constant growth in 5G shipments are expected to drive growth across segments. Airtel remains committed to diversifying its portfolio, acquiring high-quality customers, and expanding its fibre home pass rollout. Airtel is well-positioned for future growth due to significant expansion in fixed wireless access (FWA) and home-pass networks. The company has added new towers and...
We hosted Tata Communications (TCom)’s management – Mr. Kabir Ahmed Shakir, CFO – for an NDR in the UK. Summarily, we learn, TCom remains excited about its digital business as key parameters are advancing encouragingly, and order book (OB) growth remains healthy.
Consolidated revenue stood at Rs 49,463 crore, rising 3.3% q-o-q/ 28.5% y-o-y beating our estimates of Rs 48,205 crore, driven by strong performance in India and rebound in Africa on reported currency.
Consolidated revenue stood at Rs 47,876 crore, up 6.1% q-o-q/ 27.3% y-o-y nearly in line with our estimates of Rs 47,528 crore, driven by strong underlying momentum in India, rebound in reported CC revenue growth in Africa and full quarter impact of Indus Towers consolidation.
Bharti Hexacom (BHL) delivered an in-line 4Q, with ~1-2% QoQ rise in revenue and EBITDA, as the residual benefit of the tariff hike was offset by two fewer days QoQ.
Bharti reported in-line 4QFY25 performance, with ~1%/2% QoQ growth in India wireless revenue/EBITDA as the residual flow-through of tariff hikes was offset by two fewer days QoQ.
Bharti Airtel has signed an agreement with SpaceX to bring Starlink’s high-speed internet services to its customers in India, subject to regulatory approvals.
We upgrade Tata Communications’ (TCom) two notches to BUY (from Hold). TCom’s stock price has plunged notably beset by near-term revenue weakness – making the company’s revenue guidance seem rather ambitious. In our view, this presents strong upside potential and compelling risk-reward.
Bharti Hexacom (Hexacom), the licensed operator of wireless and fixed-line services under the Airtel brand in Rajasthan and North East circles, provides pureplay exposure to the two high-growth businesses of Airtel – India wireless and Home broadband.
Driven by tariff repair in the India wireless segment, Bharti’s FCF generation improved significantly over the past few years (9MFY25: INR292b). Bharti’s main priority for cash deployment so far has been prepaying high-cost debt.
