Shares of Bharti Airtel rose in early trade on Wednesday. This momentum has been seen after the first quarter results. On Wednesday, the company’s shares were trading at Rs. Was trading at 713.
Buy, sell and hold before Airtel shares surge, understand what experts say
Shares of Bharti Airtel rose in early trade on Wednesday. This momentum has been seen after the first quarter results. The company reported a more than five-fold increase in net profit in the first quarter of the current financial year to Rs. 1,607 crore has been registered. On Wednesday (10 August 2022) at 11:45 am on BSE, the company’s shares traded at Rs. Was trading at 713.
Will it be beneficial to bet on Airtel?
Commenting on Airtel’s stock performance, brokerage firm Motilal Oswal said, “We are seeing growth in India and Africa business. This will gradually impact earnings. That’s why the Rs. buy tag has been increased to Rs. 910.” The stock has been maintained with the target price.
Also Philips Capital is very positive about the stock. According to Philips Capital, it is the only stock worth investing in the sector. Analyst estimates Buy with a target price of Rs.840. Tag is also given.
How was the performance in the first quarter?
Earlier in the same quarter of FY 2021-22, the company’s net profit stood at Rs. 283.5 crores. For the quarter ended June 2022, the company’s consolidated operating income grew nearly 22 per cent to Rs. 32,805 crore as compared to Rs. 26,854 crores. Bharti Airtel’s mobile service revenue in the country grew 27 percent to Rs. 18,220 crore as against Rs. 14,305.6 crores.
Growth has been seen in the last one month
The company’s shares have gained 8.07% in the last one month on the BSE. Meanwhile, the share price of the company has reached the level of Rs 713.20 from the level of Rs 660. Talking about the last one year, the shares of the company have gained 16.83%.