Prices of shares of Bharti Airtel up 28 pc in two months

The prices of shares of Bharti Airtel have gained 28 per cent in the last two months. Its shares closed at a price of Rs. 505 on Friday. Robust earnings for the September quarter and a jump in the subscriber base aided the telecom operator's stock prices to go North.

Analysts are bullish on the stock and recommend a 'Buy' rating to the share. CLSA sees a target price of Rs. 715 for Bharti Airtel stock, an upside of 42 per cent  from the current levels. Motilal Oswal has set a target price of Rs.650 for the same while Axis Securities has kept the target price at Rs. 657.

Airtel added 3.8 million subscribers in September, shows the latest Trai data. While Reliance Jio added 1.5 million users in September, Vodafone Idea lost 4.6 million subscribers in the month.

Bharti Airtel narrowed its consolidated net loss to Rs. 763 crore in the second quarter posting record consolidated revenue boosted by the continued recovery of its India business. Net sales or revenue was Rs. 25,785 crore up 22 per cent year-on-year in the second quarter, a seasonally weak quarter for the telecom sector.

The Department of Telecom has decided to release the details of 5G bands soon. Bharti Airtel founder Sunil Mittal claimed India won’t be ready for 5G services in the next 2-3 years, while billionaire Mukesh Ambani has urged the government to accelerate the auction of 5G spectrum.

DoT has indicated conducting spectrum auctions in January-March, but it is not sure whether airwaves for the 5G wireless service will be sold immediately.

Bharti Airtel, headquartered in New Delhi  is amongst the world’s largest telecommunications companies offering mobile, fixed broadband, digital TV solutions and mobile commerce to over 400 million customers across 18 countries including India, South Asia and Africa. 

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