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    532454   INE397D01024

BHARTI AIRTEL LIMITED

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Indian shares flat in volatile trade; Reliance jumps

11/29/2021 | 12:51am EST

BENGALURU, Nov 29 (Reuters) - Indian shares traded flat after opening lower in a volatile session on Monday on gains in heavyweight Reliance as well as metal and technology stocks amid a global market rebound on hopes that the new coronavirus variant would likely be mild.

Earlier in the day, the main bourses fell more than 1% each to hit their three-month lows but pared losses. By 0518 GMT, blue-chip NSE Nifty 50 index was down 0.15% at 17,000.40, while the benchmark S&P BSE Sensex slid 0.05% to 57,090.06.

"After last week's fall, we are seeing some volatility in the markets. However, sentiment is steadying globally after reports that the new coronavirus variant may not be as lethal as first thought," said Ajit Mishra, VP Research, Religare Broking.

Mishra also said that all sectors, barring pharma, are seeing some pressure, and stocks of hotels, aviation and multiplex chains were likely to be the most affected on the variant news.

Reliance Industries led gains for the blue-chip index, rising as much as 3.6%. The company's telecom venture, Jio, said https://www.bseindia.com/xml-data/corpfiling/AttachLive/0834379b-a9e2-4b91-bed5-e2b73cc7f507.pdf on Sunday it will raise its prepaid tariffs by 21%, matching hikes by rivals Bharti Airtel and Vodafone Idea Ltd .

Separately, the Economic Times newspaper reported on Monday that the conglomerate, controlled by billionaire Mukesh Ambani, was considering an offer to buy into British telecom firm BT Group Plc.

Shares of One 97 Communications Ltd, the parent of fintech firm Paytm, fell as much as 4.6% after saying its net loss for the September quarter widened by 8.4%. The company reported its earnings publicly for the first time since its stock market debut this month.

PNB Housing Finance jumped 5% after media reports last week that private equity firm Baring Asia Baring Asia had offered buy Carlyle Group's stake in the company.

Carlyle currently owns a 32.15% stake in the company and is its second-largest shareholder.

Energy, auto, and banking indexes were among the worst performers, all down about 0.6% each, while IT and metal stocks added around 0.6%.

Looking ahead, India's economic growth data is in focus as it reports GDP data for the July-September period at 1200 GMT on Tuesday.

(Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED -1.98% 714.1 End-of-day quote.4.42%
BT GROUP PLC 2.82% 186.15 Delayed Quote.6.78%
ONE97 COMMUNICATIONS LIMITED -5.76% 1041.65 Delayed Quote.-17.18%
PNB HOUSING FINANCE LIMITED -4.56% 491.2 End-of-day quote.-0.77%
RELIANCE INDUSTRIES LTD -1.19% 2521.8 Delayed Quote.7.21%
VODAFONE IDEA LIMITED -3.60% 12.05 Delayed Quote.-18.57%
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01/12Indian Indices Close on Positive Note Midweek; Mahindra & Mahindra Jumps 5%
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01/10India's Vodafone Idea approves conversion of spectrum interest, govt dues into equity
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01/06Indian shares end four-day rally as COVID-19 cases spike
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01/05Bharti Airtel and Hughes Communications India Set Up New Satellite Broadband Joint Vent..
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01/05Hughes Communications, Bharti Airtel Launch Indian Satellite Broadband Joint Venture
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01/04Hughes and Airtel Form Joint Venture to Provide Satellite Broadband Services in India
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01/04Airtel Payments Bank Gets Scheduled Bank Status
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01/04Bharti Airtel Withdraws Plans for New Corporate Structure
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Analyst Recommendations on BHARTI AIRTEL LIMITED
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Financials
Sales 2022 1 152 B 15 447 M 15 447 M
Net income 2022 51 130 M 686 M 686 M
Net Debt 2022 1 321 B 17 713 M 17 713 M
P/E ratio 2022 85,7x
Yield 2022 0,24%
Capitalization 4 200 B 56 313 M 56 327 M
EV / Sales 2022 4,79x
EV / Sales 2023 3,96x
Nbr of Employees 18 363
Free-Float -
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Technical analysis trends BHARTI AIRTEL LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 30
Last Close Price 714,10 INR
Average target price 849,05 INR
Spread / Average Target 18,9%
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Managers and Directors
Gopal Vittal CEO, Managing Director & Executive Director
Soumen Ray Chief Financial Officer-India & South Asia Region
Sunil Bharti Mittal Chairman
Randeep Singh Sekhon Chief Technical Officer & Network Director
Pradipt Kapoor Chief Information Officer
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