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Shares of Bharti Airtel rose today on data revenue growth and as brokers have maintained ‘buy’ rating on the stock.
The stock gained as much as 2.1 per cent to its highest since January 22.
Bharti’s December quarter numbers were operationally strong and it scored better than its peers on data revenue growth, says HSBC.
According to BNP Paribas, voice revenue is weak on lower pricing and EBITDA is in line on higher margins.
HSBC has maintains its ‘buy’ rating on the stock and has cut the target price to Rs 430 from Rs 450.
BNP Paribas has cut the price target to Rs 420 rupees from Rs 480 and has maintained “buy’’ rating.
Median price target is Rs 386, says Thomson Reuters Eikon.
The stock had lost 12.9 per cent as of Monday’s close.
Bharti Airtel had on Thursday reported December quarter numbers that were below estimates.
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