Buy Bharti Airtel, target Rs 432: ICICI Securities
ICICI Securities has buy call on Bharti Airtel with a target price of Rs 432.
The current market price of Bharti Airtel is Rs 382.60.
Time period given by analyst is 6 months when Bharti Airtel price can reach defined target.
ICICI Direct recommended to keep stoploss at Rs 352.
“The stock has been consolidating for the last 12 months in the broad range of Rs 380-280, while adjusting to the major transformation in the Indian telecom industry over the last year. We believe the sideways consolidation over the last year is approaching maturity. The stock provides a good entry opportunity with a favourable reward/risk set up for medium term investors to ride the next up move,” said ICICI Securities in a report.
Bharti Airtel, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 150841.89 crore) operating in Telecommunications sector.
Bharti Airtel key Products/Revenue Segments include Service Revenue which contributed Rs 60261.70 crore to Sales Value (99.93 per cent of Total Sales) and Sale of Products which contributed Rs 38.50 crore to Sales Value (0.06 per cent of Total Sales)for the year ending 31-Mar-2016.
For the quarter ended 31-03-2017, the company has reported a Consolidated sales of Rs 21934.60 crore, down 6 per cent from last quarter Sales of Rs 23335.70 crore and down 12.12 per cent from last year same quarter Sales of Rs 24959.60 crore.
Company has reported net profit after tax of Rs 219.80 crore in latest quarter.
The company’s top management includes Mr.Ben Verwaayen, Mr.croreaig Ehrlich, Mr.D K Mittal, Mr.Gopal Vittal, Mr.Manish Kejriwal, Mr.Rakesh Bharti Mittal, Mr.Sheikh Faisal Thani Al-Thani, Mr.Shishir Priyadarshi, Mr.Sunil Bharti Mittal, Mr.V K Viswanathan, Ms.Chua Sock Koong, Ms.Tan Yong Choo. Company has Deloitte Haskins & Sells LLP as its auditors.
As on 31-03-2017, the company has a total of 3,997,400,102 shares outstanding.
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Via:: Economic Times – Stocks