Bharti Airtel share closes 6% higher after Jefferies turns upbeat on telco
Share price of Bharti Airtel closed 3.49% or Rs 21.45 higher at Rs 573.15 compared to the previous close of Rs 551.70 on BSE
- Jun 4, 2020,
- Updated Jun 4, 2020 7:16 PM IST
Bharti Airtel share price ended higher in an otherwise weak market after global brokerage Jefferies said the telco's share price was likely to double in 3 years. It cited strong core operational performance of the firm behind the projection. Share price of Bharti Airtel closed 3.49% or Rs 21.45 higher at Rs 573.15 compared to the previous close of Rs 551.70 on BSE.
On Nifty, the stock gained 5.73% or Rs 31.60 to Rs 583.25 compared to the previous close of Rs 551.65. Bharti Airtel stock has gained after 2 days of consecutive fall. Bharti Airtel share gained 6.04% to an intraday high of Rs 585 on BSE.
Bharti Airtel share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock was among the top gainers on Sensex and Nifty in an otherwise falling market today. Market cap of the firm rose to Rs 3.12 lakh crore.
Share price of Bharti Airtel has gained 62.16% during the last one year and risen 25.75% since the beginning of this year. In one month, the stock has gained 7.67%.
According to analysts' recommendations tracked by Reuters, 23 of 26 brokerages rate the stock "buy" or 'outperform', two "hold" and one "underperform".
The stock hit its all-time high of Rs 611.70 on May 20 this year. The large cap stock hit its 52 week low of Rs 321.60 on August 1 2019.
Bharti Airtel is the key beneficiary of the rising tariffs and ongoing consolidation in the Indian telecom space, Jefferies said.
Bharti Infratel appoints Pooja Jain as new CFO; to replace S Balasubramanian
The brokerage said that the stock's fair value could range between Rs 840-1,110 in the financial year 2022-23, which amounts to a 50 to 100 percent upside in 3 years. It also reiterated a 'buy' call on the stock with the 12-month target at Rs 660.
Meanwhile, Sensex closed 128 points lower at 33,980 and Nifty ended 32 points lower to 10,029. The losses in the benchmark indices came after six consecutive sessions of gain.
'No activity to report,' says Bharti Airtel on stake sale to Amazon
Bharti Airtel share price ended higher in an otherwise weak market after global brokerage Jefferies said the telco's share price was likely to double in 3 years. It cited strong core operational performance of the firm behind the projection. Share price of Bharti Airtel closed 3.49% or Rs 21.45 higher at Rs 573.15 compared to the previous close of Rs 551.70 on BSE.
On Nifty, the stock gained 5.73% or Rs 31.60 to Rs 583.25 compared to the previous close of Rs 551.65. Bharti Airtel stock has gained after 2 days of consecutive fall. Bharti Airtel share gained 6.04% to an intraday high of Rs 585 on BSE.
Bharti Airtel share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock was among the top gainers on Sensex and Nifty in an otherwise falling market today. Market cap of the firm rose to Rs 3.12 lakh crore.
Share price of Bharti Airtel has gained 62.16% during the last one year and risen 25.75% since the beginning of this year. In one month, the stock has gained 7.67%.
According to analysts' recommendations tracked by Reuters, 23 of 26 brokerages rate the stock "buy" or 'outperform', two "hold" and one "underperform".
The stock hit its all-time high of Rs 611.70 on May 20 this year. The large cap stock hit its 52 week low of Rs 321.60 on August 1 2019.
Bharti Airtel is the key beneficiary of the rising tariffs and ongoing consolidation in the Indian telecom space, Jefferies said.
Bharti Infratel appoints Pooja Jain as new CFO; to replace S Balasubramanian
The brokerage said that the stock's fair value could range between Rs 840-1,110 in the financial year 2022-23, which amounts to a 50 to 100 percent upside in 3 years. It also reiterated a 'buy' call on the stock with the 12-month target at Rs 660.
Meanwhile, Sensex closed 128 points lower at 33,980 and Nifty ended 32 points lower to 10,029. The losses in the benchmark indices came after six consecutive sessions of gain.
'No activity to report,' says Bharti Airtel on stake sale to Amazon