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Research analysts of various firms have recommended a buy rating for the stock with a target price ranging between Rs 775 to Rs 1,040.
According to Morgan Stanley, the telecom major had a net 4G subscriber addition of 6.2 million quarter-on-quarter (QoQ) -- the strongest in the last five quarters. The company reported total subscribers of 332 million.
Morgan Stanley said the India mobile services<\/a> ARPU<\/a> stood at Rs 193 and the margins also saw an improvement across segments barring the digital television services which were in negative.
Churn rate improved to three per cent in the third quarter of FY23 as against 3.3 per cent the previous quarter.
On its part, the HSBC in its report said it expects robust mobile revenue growth, and ARPU to rise, driven by: (1) sub migration from 2G to 4G, (2) sub migration to higher bucket data plans due to a surge in data usage, (3) gains in high-value post-paid subs, and (4) segmented tariff hikes.
\"We think Bharti<\/a>'s competitive positioning has strengthened with spectrum investment of $5.4 billion in 2022. This positions the company to significantly expand its network capacity and provide nationwide 5G<\/a> as handset adoption scales,\" HSBC report notes.
According to IIFL Securities Limited, Bharti Airtel<\/a>'s recent extension of the entry-level pack price increase to 17 circles after encouraging results in two circles suggests that the key impediment to broad-based tariff hikes is competitive intensity rather than weak consumption environment.
With the government agreeing to pick up about 33.4 per cent stake in Vodafone Idea<\/a>, and the boost to that company's finances from a potential tariff hike, the rationale for a price increase becomes stronger, said IIFL Securities in its report.
\"With elections approaching in 1H2024, we see a decent chance of 4G prepaid tariff hike in the next few months,\" IIFL Securities added.
According to IIFL Securities, Bharti<\/a> Airtel management has identified 40,000 high-potential rural clusters where it targets profitable market share gains. 5G<\/a> mostly serves 4G data offloads; 5G handsets should rise to 20 per cent of installed base by March 2024.
On the negative side, Morgan Stanley said Bharti Airtel's consolidated capital expenditure of Rs 93.1 billion was higher than expectations led by India mobile business.
\"The India mobile services<\/a> business capex was at Rs 63.8 billion (+65.9 per cent qoq) and came in much higher than our expectations,\" Morgan Stanley said.
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- Telecom乐动扑克News
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更高的用户增长,ARPU,降低生产分析师支持Bharti Airtel股票
据摩根士丹利(Morgan Stanley)电信主要有净4 g用户添加620万环比(集团)——过去五个季度中最强的。该公司公布的总用户3.32亿。
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各种公司的研究分析师推荐股票的买入评级,目标价介于Rs 775至1040卢比。
据摩根士丹利(Morgan Stanley)电信主要有净4 g用户添加620万环比(集团)——过去五个季度中最强的。该公司公布的总用户3.32亿。
摩根士丹利(Morgan Stanley)表示,印度移动服务 ARPU站在Rs 193,利润率也有所改善跨段除非在消极的数字电视服务。
流失率FY23第三季度提高百分之三,与前一个季度的3.3%。
方面,汇丰银行(HSBC)在其报告中表示,预计移动业务收入强劲增长,和ARPU上升,由:(1)子迁移从2 g到4 g,(2)子迁移到更高的桶数据计划由于数据使用激增,(3)在高价值的邮资已付的潜艇,和(4)分段关税上调。
“我们认为Bharti的竞争定位加强了与光谱在2022年投资54亿美元。这个职位公司显著扩大网络容量和在全国范围内提供5克手机采用尺度,”汇丰银行报告指出。
根据IIFL证券有限公司Bharti Airtel最近的入门级的扩展包的价格增加到17圈后,两个圆的令人鼓舞的结果表明,广泛的关税上涨的关键障碍是竞争强度而不是疲弱的消费环境。
政府同意接约33.4%的股份沃达丰的想法,提振公司的财务状况从一个潜在的关税上涨,涨价的理由变得更强,IIFL证券在其报告中表示。
“1 h2024随着选举临近,我们看到一个体面的机会来4 g预付关税上调在接下来的几个月里,“IIFL证券补充道。
根据IIFL证券,Bharti旅馆管理已发现40000例高潜力的农村集群目标有利可图的市场份额。5克主要是4 g数据分流;5 g手机应该上升到2024年3月的装机量的20%。
在消极方面,摩根士丹利表示Bharti Airtel巩固资本支出的Rs 931亿高于预期由印度移动业务。
“印度移动服务商业资本支出在Rs 638亿(+ 65.9%不可小觑)和远高于我们的预期,”摩根士丹利(Morgan Stanley)说。
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