Bharti Airtel trades flat after telecom services provider raises price of minimum monthly recharge plan by 57% - Check target price
Bharti Airtel Share Price NSE: According to sources closely engaged with the development, the company has started trial of the new plan and is likely to roll out the same across India based on the result, as per the PTI report.
Bharti Airtel Share Price NSE: Stock of Bharti Airtel Ltd (NSE: BHARTIARTL) traded flat in afternoon trades after the telecommunications services provider increased the price of its minimum recharge for 28 days mobile phone service plan by about 57 per cent to Rs 155 in Haryana and Odisha, according to the company's website and analysts.
The stock opened at Rs 853.40 on NSE and has been volatile today on D Street. At 12:50 PM, the stock quoted at Rs 848.60, declining 0.31 per cent.
Brokerage house Citi has maintained a 'buy' rating with a price target of Rs 940. Citi currently forecasts a 15 per cent consolidated EBITDA CAGR for Bharti over FY22-25E. The company's 5 per cent increase in Mobile ARPU (average revenue per user) can lead to a 4 per cent upside to FY24 EBITDA and 5G Capex is likely to accelerate in coming quarters.
Testing waters for another tariff hike at low-end if successful across all its circles, estimates could boost its mobile rev by 2.5-3 per cent, the brokerage said. More pertinently, this could be a precursor to a more broad-based tariff hike, the brokerage added.
Another brokerage house- Jefferies has given a call to hold, with a target price of Rs 855.
The company has stopped its minimum recharge plan of Rs 99, under which it offered 200 megabyte of data and calls at the rate of Rs 2.5 paise per second. In Haryana and Odisha, Airtel has now started offering the Rs 155-plan with unlimited calling, 1 GB data and 300 SMSes.
According to sources closely engaged with the development, the company has started trial of the new plan and is likely to roll out the same across India based on the result, as per the PTI report.
The company so far this year has given a positive yield of 23 per cent to its shareholders. The company has a market cap of Rs 4.91 lakh crore and a 52-week range from Rs 855.00 to Rs 628.75.
Click Here For Latest Updates On Stock Market | Zee Business Live
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.