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Bharti Airtel share trading flat ahead of Q2 earnings

Market capitalisation of the firm stood at Rs 2,34,861 crore. Bharti Airtel shares trade higher than 5 and 20-day moving averages but lower than 50, 100 and 200-day moving averages

twitter-logoBusinessToday.In | October 27, 2020 | Updated 14:20 IST
Bharti Airtel share trading flat ahead of Q2 earnings
Bharti Airtel stock has gained 6% in one week

Bharti Airtel share price traded flat on Tuesday as the telecom major is scheduled to announce September quarter earnings later in the day.

Shares of Bharti Airtel fell 1.5% to Rs 427.55 apiece, from its previous close of Rs 434.05 on the BSE. The stock opened higher at Rs 434.50 and hit an intraday high of Rs 438.70.

Market capitalisation of the firm stood at Rs 2,34,861 crore. Bharti Airtel shares trade higher than 5 and 20-day moving averages but lower than 50, 100 and 200-day moving averages.

Bharti Airtel stock has gained 6% in one week. However, the stock has fallen 2% in one month and 5% year-to-date. Airtel stock price has gained after 2 days of consecutive fall.

Brokerage Credit Suisse said the telecom company's losses may narrow to Rs 846.8 crore, compared to the steep net loss of Rs 23,044.9 crore in a year-ago period. The brokerage expects the company's revenue to gain by 16.1% to Rs 24,536.7 crore.

"We expect Bharti Airtel to continue to show growth as the Covid-19 headwinds recede while home broadband and enterprise segment benefit from an increase in demand for connectivity," it added later. ICICI Securities in its report said it sees both subscriber and average revenue per user (ARPUs) remaining firm given a return of migrants to cities, continued higher data usage and thereby pack upgrades and improved availability of recharges both digitally/physically as cities/towns have largely restarted post lockdowns.

Emkay Global said it expects company's net sales to see a 17% year-on-year (YoY) growth while EBITDA and EBITDA margin may rise 21.9% and 177 bps YoY, respectively.

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