Business Today
Loading...

This telco stock has doubled in two months; eyes fresh highs

Bharti Infratel share price has doubled from its 52-week low of Rs 121 touched on March 19, 2020. However, the stock is still 22% lower from its 52-week high of Rs 295.75 registered on December 2 last year

Rupa Burman Roy Last Updated: May 29, 2020 | 16:57 IST
This telco stock has doubled in two months; eyes fresh highs
Bharti Infratel stock has gained 13.88% in the last 6 sessions of consecutive rise. It has risen 10.6% in one week and 40.84% in one month.

Share price of Bharti Infratel was trading among the top gainers on NSE in early Friday's trade, rising 8.38% intraday.

Bharti Infratel share price has doubled from its 52-week low of Rs 121 touched on March 19, 2020. However, Infratel stock price is still 22% lower from its 52-week high of Rs 295.75 registered on December 2 last year.

Bharti Infratel stock climbed 8.38% to the intraday high of Rs 242.6 on BSE as against the last closing value of 223.85 on BSE. On NSE, Bharti Infratel stock hit intraday high of Rs 242.50.

Infratel stock price trades higher than its 5, 20, 50, 100 and 200-day moving averages. The stock has gained 13.88% in the last 6 sessions of consecutive rise. It has risen 10.6% in one week and 40.84% in one month.

With an intraday volatility of 2,730.81%, the stock registered heavy volumes today, with 7.3 lakh and 23.3 lakh shares changing hands on the BSE and NSE counters, both above the 5,10 and 30-day average volume traded. Market capitalisation of the firm stood at Rs 42,476.51 crore.

The leading wireless telecommunications service provider in India last month announced the extension of its deadline for completion of a merger with Indus Towers to June 24.

IIFL Securities in its report increased the target price for Bharti Infratel to Rs 274 from Rs 233 earlier and upgraded the stock from ADD to BUY rating.

The rating firm added,'' Closure of the Indus-Infratel merger has been delayed on account of renegotiation of the merger terms, given the relatively weaker financial performance of the Indus vs Infratel in the past 2 years and Indus' higher exposure to Vodafone. We think a merger is imminent, as: 1) the merger would result in better liquidity for both the negotiating parties; and 2) considering the value unlocking by creating an integrated single tower with a clean structure."

Kotak Institutional Equities in its report has kept buy rating for Infratel stock at the target price of Rs 224, with fair value at Rs 185.

Motilal Oswal in its equity report has kept 'Neutral' rating for Infratel stock, at the target price of Rs 170.

As per Axis Securities while recent supports for the stock stand at 218 and 210, the near-term resistance lies around 229 and 233, with the pivot point at 221.

Share Market Update: Sensex ends 233 points higher, Nifty at 9,580; Wipro, BPCL, ONGC, Indian Oil top gainers

Cadila Healthcare share price rises over 4% on EIR from USFDA

Wipro share price gains nearly 6% after Thierry Delaporte named new CEO and MD

CEAT share price rises over 6% despite fall in Q4 net profit

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close