Stock Tips: The brokerage firm expects Bharti Airtel stock to rise by over 18% due to positive impact on revenue due to tariff hike.
Stock Tips: ICICI Securities is bullish on Bharti Airtel and Tata Communications. The brokerage firm believes that these two telecom stocks have the potential to rise in the near term. The brokerage firm expects Bharti Airtel stock to rise over 18% due to the positive impact on revenues due to the tariff hike. At the same time, the stock of Tata Communications can rally more than 14% in the near term. ICICI Securities has expressed hope of good gains in two stocks in its latest recommendation. Let us know how strong they are in terms of returns.
Bharti Airtel: Buy
CMP: Rs 700, Target Price: Rs 861, Rally: 18.5%
Bharti Airtel stock may rise 18.5% as Consolidated EBITDA is expected to clock 2.8% QoQ to Rs 14,200 crore. Airtel’s consolidated revenue is expected to grow 2.5% QoQ to Rs 29,000 crore and EBITDA to grow by 2.8%. ICICI Securities has given a ‘Buy’ rating to the stock with a target price of Rs 861.
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Tata Communications: Buy
CMP: Rs 1504, Target Price: Rs 1750, Rally: 14.01%
Tata Communications (TCom) will see a gradual improvement in data revenue. The Company’s Consolidated Revenue is expected to grow by 2.3% in QoQ, EBIDTA is expected to grow by 3.5% and PAT is also expected to grow by 2.1% in the quarter ended December 31, 2021. The brokerage firm has given a buy rating to the stock with a target price of Rs 1750. The stock is likely to rise by more than 14% to reach the target price.
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Meanwhile, Vodafone Idea’s EBITDA is expected to grow by 0.4% and revenue is expected to grow 2.6% QoQ on the back of continued decline in subscriber base. The net loss of the company is Rs 7100 crore. On the other hand, Reliance Jio’s EBITDA QoQ is expected to grow by 5.2% and revenue is expected to grow by 4.3% on the back of tariff hike benefit in mobile services and continuous addition of FTTH subscribers. There is a possibility of only 5.6% jump in the net profit of Jio. While Vodafone Idea stock is currently ‘under review’, Reliance Jio stock is unrated by ICICI Securities. The brokerage has given ‘Hold’ rating to Indus Towers with a target price of Rs 273.
(Article: Harshita Tyagi)
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)