The stock of telecom major Bharti Airtel has gained 28.4 per cent since the start of 2024-25 (FY25). These gains could sustain, given market share improvement, lower capex impact, customer upgrades and expectations of more price hikes going ahead.
Given these triggers, brokerages believe that premium valuations for the stock are justified. The stock is trading at 11.5 times its enterprise value to operating profit and this is 30 per cent higher than the average over the last five years. The key triggers are continued market share gains and improvement in the average revenue per user or Arpu. Even as Vodafone Idea's (Vi) market share declined to an all-time low with market share loss in 16 out of 22 circles, Bharti and Jio have continued to post gains. Bharti gained 35 basis points of market share in the June quarter as compared to FY24.
Denne historien er fra September 11, 2024-utgaven av Business Standard.
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Denne historien er fra September 11, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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