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Bharti Airtel hits four-month high
SI Reporter | Mumbai Jun 29, 2017 09:44 AM IST

Since May 10, 2017, post January-March quarter results, Bharti Airtel outperformed the market by gaining 11% as compared to 3.5% rise in the S&P BSE Sensex.
“Management highlighted its focus on improving the data market share (currently at around 35%), and aims to be the key beneficiary of market disruption. As competitive intensity bottoms out in 3-4 quarters, long-term average revenue per user (ARPU) accretion should bode well for Bharti,” analyst at Motilal Oswal Securities said in Q4FY17 results update.
The brokerage firm maintain ‘buy’ rating on the stock with target price of Rs 430 as it believes that as the market bottoms out in next 3-4 quarters, the stock can provide 8-10% FCF (free cash flow) yield on 15% rise in EBITDA and annual capex reduction of 10%.
At 09:42 am; the stock was up 1.4% at Rs 383 on BSE, against 0.59% rise in the Sensex. A combined 579,483 shares changed hands on the counter on BSE and NSE so far.
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