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Motilal Oswal has issued a bullish recommendation for Bharti Airtel, setting a target price of INR 1,900. The company's strong performance in Q2 FY25, driven by tariff hikes and improved free cash flow, supports a projected CAGR of ~13% in consolidated revenue and ~16% in EBITDA through FY27. The report highlights Bharti's effective execution strategy and potential for significant shareholder returns.
Bharti Telecom, owned by billionaire Sunil Bharti Mittal, plans to raise approximately Rs 8,500 crore ($1.01 billion) in its largest-ever rupee bond issuance. This marks the company's first onshore debt sale of the year, following a successful Rs 80 billion raise in December 2023. The bonds, with maturities of three to ten years, are expected to offer a coupon rate of around 9%.
Sharekhan has issued a bullish recommendation for Bharti Airtel, setting a target price of Rs 1870 in its report dated October 29, 2024. The company reported consolidated revenue of Rs 41,473 crore, reflecting a 7.7% quarter-on-quarter increase, while the EBITDA margin rose to 52.7%. The management anticipates that the full benefits of tariff adjustments will be realized over the next two quarters.
Prabhudas Lilladher has maintained an 'Accumulate' rating on Bharti Airtel, setting a target price of Rs 1,782. The company reported an EBITDA of Rs 218 billion, a 10.9% QoQ increase, and an adjusted PAT of Rs 44.5 billion, up 29.8% QoQ, driven by strong mobile revenue growth in India and a stable EBITDA margin. The outlook remains positive, particularly for the India business, with various segments valued based on projected EV/EBITDA ratios.
Bharti Airtel reported a strong performance in Q2 FY25, driven by improved realisations and a solid year-on-year financial showing in India. However, the Africa segment faces ongoing macro challenges, impacting overall growth. The company's operating margin remained stable, with higher ARPU supported by tariff hikes and an increasing number of high-value customers.
Analysts are expressing caution regarding SBI Cards, while Nomura has raised the target price for Bharti Airtel. In the automotive sector, Maruti Suzuki faces challenges with weak demand and high discounting, leading to neutral and hold calls from Nomura and HSBC, respectively. Both firms anticipate a tough Q3 but expect normalization in FY26 with potential upside from new product launches.
On October 29, benchmark indices continued their upward trend, gaining half a percent for the second consecutive session, supported by positive market breadth with 1,520 shares advancing against 980 declining on the NSE. Market consolidation is expected until a decisive move above short-term moving averages occurs in the coming sessions. Trading insights for Bharti Airtel, MCX India, BSE, Bharat Electronics, LIC, and Trent are provided by Ashish Kyal, CMT, Founder and CEO at Waves Strategy Advisors.
The Q2 earnings season is in full swing, with major companies like TCS, HCL Technologies, and Infosys having reported their results. Today, firms including Maruti Suzuki, Adani Enterprises, and Cipla are set to announce their earnings. Notably, Honeywell Automation and Godrej Agrovet reported profit declines of 5.6% and 7.8%, respectively.
The Q2 earnings season for 2024 is in full swing, with major companies like Bharti Airtel, Sun Pharma, and Indian Oil set to release their financial reports today. Earlier, Reliance Industries reported a 4.8% profit decline, while HCL Tech and TCS posted profit increases of 10.5% and 5.0% YoY, respectively. Upcoming reports from giants such as Maruti Suzuki and Dabur India are also anticipated this week.
Several major companies are set to announce their Q2FY25 results today, including Bharti Airtel, Sun Pharmaceutical Industries, Ambuja Cements, and Adani Power. Other key players releasing earnings include Punjab National Bank, Indian Oil Corporation, BHEL, Federal Bank, IOC, JSW Infrastructure, and Motilal Oswal.
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Motilal Oswal recommends buy on Bharti Airtel with target price of 1900
08:01 31.10.2024
Bharti Telecom plans record rupee bond sale to raise 8500 crore
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Sharekhan recommends buy on Bharti Airtel with target price of 1870
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