Global Statistics

All countries
221,997,794
Confirmed
Updated on 07/09/2021 5:39 am
All countries
196,885,507
Recovered
Updated on 07/09/2021 5:39 am
All countries
4,589,122
Deaths
Updated on 07/09/2021 5:39 am

Global Statistics

All countries
221,997,794
Confirmed
Updated on 07/09/2021 5:39 am
All countries
196,885,507
Recovered
Updated on 07/09/2021 5:39 am
All countries
4,589,122
Deaths
Updated on 07/09/2021 5:39 am

Bharti Airtel Stock Price Rises 5%, Dodges Bears After Rate Review; stocks may go higher

On the technical side, ICICI Direct analysts have a “buy” call to Bharti Airtel.

Bharti Airtel’s share price rose more than 5% on Wednesday, while overall market sentiment was negative and bears were wreaking havoc. The telecommunications giant’s shares were trading at Rs 567 per share. “Bharti Airtel is getting a positive boost in stock due to increased rates for the postpaid subscriber ”, Amarjeet S Maurya, AVP Research, said Angel Broking. ME.Earlier in the day, Airtel announced that it will discontinue its entry-level prepaid recharge plan of Rs 49. Bharti Airtel’s share price is up 7.75% in the last week of trading.

Increased ARPU on cards?

The company had also announced new plans for postpaid retail and corporate clients last week, as the telecommunications industry continues to approach another rate hike. “Airtel has recently updated its postpaid and prepaid plans. With this, the market anticipates an increase in Bharti Airtel’s average revenue per user (ARPU) in the future, ”Vishal Wagh, Bonanza Portfolio’s head of research told Financial Express Online. Vishal Wagh added that Bharti Airtel has also been gaining momentum when it comes to active wireless subscribers. According to TRAI data, as of April, Bharti Airtel had 346.95 million active wireless subscribers, followed by Reliance Jio’s 335.17 million users. Vishal Wagh said this is helping investors gain confidence in Bharti Airtel.

Although the exact impact of the changes made by Bharti Airtel so far is unknown, analysts expect healthy growth. “The company is increasing rates for the business segment (which represents about 60% of the company’s postpaid users), which would drive the overall average ARPU for Bharti Airtel. Moving forward, we expect Airtel to report healthy revenue and bottom line growth thanks to a strong brand, growth in customer additions, and improved ARPU. Therefore, we are positive in action ” Added Amarjeet S Maurya.

Charts Suggest Greater Advantage

On the technical side, ICICI Direct analysts have a “buy” call to Bharti Airtel. “We believe the stock has seen a healthy consolidation setting the stage to resolve higher towards Rs 595 levels in the coming months as it is the 80% retracement of the February-March 2021 decline (Rs 623-500). “they said in a previous note. “The stock has formed a higher base above the 52-week EMA and currently resolved outside of the past two-month range (550-520) coinciding with the five-month downtrend line, indicating the resumption. of the primary uptrend that augurs well for the next stage of the upward movement, ”ICICI Direct added. The brokerage firm has a loss limit of Rs 510 on Bharti Airtel and recommends this trade with a 3 month time frame.

Get Live Stock Prices from BSE, NSE, US Market & Latest NAV, Mutual Fund Portfolio, Check Latest IPO News, Top Performing IPOs, Calculate Your Taxes with Tax Calculator income, learn about the top market winners, top losers, and best equity funds. Like us in Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay up-to-date with the latest news and updates from Biz.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot Topics

Related Articles