Buy Bharti Airtel, target price Rs 720: Edelweiss

Edelweiss has buy call on with a target price of Rs 720. The current market price of Bharti Airtel Ltd. is Rs 670.7.

Time period given by analyst is Intra Day when Bharti Airtel Ltd. price can reach defined target.

Bharti Airtel Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 368267.89 Crore) operating in Telecommunications sector.

For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 27063.40 Crore, up 4.77 % from last quarter Total Income of Rs 25831.20 Crore and up 10.83 % from last year same quarter Total Income of Rs 24419.20 Crore. Company reported net profit after tax of Rs 1436.10 Crore in latest quarter.

Investment Rationale
After giving a breakout from a multi-year top pattern, stock has given a follow through.

Promoter/FII Holdings
Promoters held 55.9 per cent stake in the company as of June 30, 2021, while FIIs held 18.6 per cent, DIIs 20.4 per cent and public and others 5.2 per cent.

(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.

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