Bharti Airtel share cost hit a record higher of Rs 618.75, increasing more than 3 per cent on BSE on Wednesday, ahead of its October-December quarter earnings later in the day. The telecom giant has surpassed its earlier higher of Rs 611.70 apiece touched on May 20, 2020, fuelled by post spending budget rally in the equities. So far in the intraday session, more than 7.6 lakh shares have traded on the BSE, even though 1.47 crore shares exchanged hands on NSE, as per the information from the respective stock exchanges. Analysts at CLSA are bullish on the stock with a 22 per cent upside. While these at Motilal Oswal Financial Services are seeing more than 8 per cent obtain in the stock cost.
Last week, Bharti Airtel had develop into the very first telecom operator in India to demonstrate 5G readiness. It launched 5G on a use case basis at one of its retailers in Hyderabad on a non-standalone network basis on 1,800MHz. Since 5G spectrum bands in 3.5 GHz are but to be auctioned, Bharti Airtel utilised spectrum sharing technologies and operated 5G technologies making use of its current spectrum bands like 1800/2100/2300 MHz and sub-GHz bands 800/900 MHz. “We think 5G deployment for commercial use is still more than a couple of years away as spectrum availability and ecosystem development would take much longer, while 4G still has a long way in fulfilling its true potential,” Motilal Oswal Financial Services stated. It has provided a target cost of Rs 650 apiece.
Related News
Stocks in concentrate: Bharti Airtel, Indigo Paints, ACC, GAIL, Power Grid, RIL, Future Retail, HDFC
High-speed broadband services: Telcos and technologies majors spar more than spectrum band
In the third quarter of FY21, Airtel Africa income enhanced 17 per cent on-year, Ebitda jumped 22 per cent on-year and PAT was up 25 per cent on-year. Africa accounts for 25 per cent of Bharti Airtel consolidated income and Ebitda. “We believe its operations are undervalued. Also, led by India mobile growth, we forecast a 16 per cent consolidated Ebitda CAGR over FY21-23CL,” CLSA stated in its note.
In yet another improvement, Bharti Airtel will also look at financing techniques and fundraising plans through instruments like debentures, bonds, and loans, as the telecom sector gears up for spectrum auctions and roll-out of new-age technologies.