The country’s leading telecom company Bharti Airtel has decided to buy a stake in Sindhu Tower. The company will buy a 4.7 percent stake in Indus Towers from Vodafone. The company has entered into an agreement with Euro Pacific Securities Limited, a subsidiary of Vodafone Group plc, to buy a stake in Tower Infrastructure Company.
Brokerage of Bharti Airtel
Opinions of JEFFERIES in BHARTI AIRTEL
BHARTI AIRTEL has a buy rating of JEFFERIES and has a low target of Rs 910 for the stock at Rs 860. He said the decision to hold the company’s 4.7 per cent stake in Indus Tower could be financially sound. However, this decision may raise questions about its capital allocation. In the last 15 months, the company has invested Rs 8,600 crore to expand its stake in Indus & DTH Biz. The company could also increase its stake in Indus Towers.
CITI’s opinion about BHARTI AIRTEL
CITI has given a buy rating to BHARTI AIRTEL and has set a target price of Rs 875 for the stock. He said that Bharati’s agreement would help in raising VI’s capital The company has entered into an attractive price agreement and it is possible to get better returns in the long run.
Gunjan stock: Bharti Airtel, Reliance Industries, Hindalco and other stocks heading today.
CLSA’s opinion on BHARTI AIRTEL
BHARTI AIRTEL has a buy rating of CLSA and has a target price of Rs. 915 for the stock. The deal differs from the tower asset monetization strategy.
Gayle brokerage
Jefferies’ views on Gayle
JEFFERIES GAIL has upgraded from rating hold to buy rating and set a target price of Rs 160 to Rs 170 per share. He says LNG prices are likely to remain high due to Russia-Ukraine tensions. The high price of LNG will increase the trend profit in FY23 They raised FY23’s EBITDA estimate by 20%.
