Bharti Airtel Ltd. share price target

Bharti Airtel (BHARTI) displayed a good performance in 3QFY21 for the second quarter in a row, with a consol. EBITDA jump of 9% QoQ (5% beat). This was attributable to strong market share gains and ARPU improvement,...

The swift ~20% recovery in the stock after the recent fall has triggered deliberations on its earnings outlook, the possibility of a tariff hike, and capex intensity. Based on our recent channel checks, we note that: BHARTI's earnings outlook remains strong, given the steady 4G subscriber...

Sequential improvements in ARPUs on continued growth in subscriber base, coupled with equally strong growth seen in broadband and DTH verticals bodes well for Bharti Airtel. We reiterate our BUY rating on the stock with a revised TP of Rs. 544 based on SOTP methodology....

We maintain our Buy rating on Bharti Airtel with an unchanged price target (PT) of Rs. 710, given favourable market structure and continued weakness in Vodafone Idea. Beat on revenue and margin fronts; ARPU improvement surprised positively, led by strong net 4G subscriber additions; growth was broad-based across portfolio, though star segment was India wireless business (EBITDA grew 12.8% q-o-q) Digital capabilities have been helping Bharti to acquire quality customers, increase wallet share,...

The key highlight was net subscriber addition of ~13.9 million coupled with low monthly churn of 1.7% and ARPU growth of 3.4% QoQ at | 162. It also witnessed strong 4G net adds of ~14.4 mn. The company also added ~695000 post-paid subscribers driven by omni-channel capabilities & corporate customer acquisition. It witnessed ~| 3365 crore of consolidated FCF generation in Q2 (vs. ~| 2906 crore in Q1). Airtel continues to root for near term ARPU of | 200 and medium to long term ARPU of | 300, to make decent RoCE. It would drive ARPU growth ahead through natural upgrade to...

Bharti posted better-than-expected performance in 2QFY21 despite no tariff hikes. This was attributable to 7.4% QoQ growth (5% beat) in India Mobile revenues, with EBITDA growth of 13% QoQ (10% beat). ARPU/sub...

We maintain BUY with SOTP based valuation at Rs 676 from earlier Rs 650 because of better margins, stronger subscriber growth and higher data consumption.

Bharti reported strong all-round beat in Q2FY21 across both India Wireless and Africa. A solid 14mn subscriber, 14.5mn 4G additions, 3.4% QoQ ARPU (computed 5.5%) in India Wireless and 5mn sub adds in Africa with 8.8% QoQ ARPU growth were key highlights. Other...

The Supreme Court of India (SC) allowed telecom players to pay Adjusted Gross Revenue (AGR)-related dues to the Department of Telecommunications (DoT) on a staggered basis over next 10 years subject to certain conditions. The apex court has directed telecom companies to make a 10% upfront payment of outstanding AGR dues by March 31, 2021, and the balance over a 10-year timeline starting February 7, 2022. As per the SC verdict, Bharti Airtel will have to pay ~Rs. 2,600 crore upfront in FY2021 and ~Rs. 3,500 crore annually from FY2022. As the SC has not mentioned anything...