Global Research firm Jefferies upgrades Bharti Airtel stock to “buy”

Global Research firm Jefferies upgrades Bharti Airtel stock to “buy”.

According to Jefferies, the telecom major is likely to see 13 percent growth in its average revenue per user (ARPU) over FY23-25 and its share of the telecom market is likely to widen on 5G rollouts.

[{"selector":"#anim-256b6695-d34e-4d05-8e69-cc8ecad90dbf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-10.0714287129489%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The research firm has however cut the estimates by 1-4 percent to factor in tariff hike delays.

[{"selector":"#anim-1550b430-3934-4a8c-a882-3ed78d8d3c30 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-7.105427357601002e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Shares of Bharti Airtel traded firm in a bearish market after global research firm Jefferies upgraded the stock to ‘buy’.

[{"selector":"#anim-a11c3aba-8e9e-412b-a16b-96167dccfaf7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-7.105427357601002e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]