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    532454   INE397D01024

BHARTI AIRTEL LIMITED

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Sensex, Nifty inch lower as losses in IT services stocks weigh

01/07/2021 | 05:40am EST
People walk past the Bombay Stock Exchange building in Mumbai

BENGALURU (Reuters) - Indian shares ended slightly lower on Thursday, as gains in telecom operator Bharti Airtel and lender Axis Bank were offset by losses in IT services stocks, a day before IT major Tata Consultancy Services kicks off third-quarter earnings season.

The blue-chip NSE Nifty 50 index fell 0.06% to 14,137.35, while the benchmark S&P BSE Sensex shed 0.17% to close at 48,093.32.

Both indexes hit record highs in the first four trading sessions of the new year, helped by continued foreign fund inflows and progress on COVID-19 vaccines. Foreign investors pumped more than $20 billion into Indian equities last year, according to Refinitiv Eikon data.

"Markets are right now very much overbought and there is some profit booking today," said Rahul Sharma, market strategist and head of research at Equity99 markets.

"Nifty at this point of time has strong support near the 14,100 level," he added.

Bharti Airtel closed 3.8% higher and was the biggest boost to the Nifty. The government's telecommunications department invited https://bit.ly/3bhHWhi bids on Wednesday for auction of airwaves across seven bands ranging from 700 MHz to 2500 MHz.

The Nifty Bank Index rose 0.5%, with Axis Bank among the top boosts to the Nifty 50. Lenders Yes Bank, HDFC Bank and Bandhan Bank this week reported higher loans and advances as of Dec. 31, 2020.

The Nifty IT index fell 0.66%, with Tata Consultancy Services shedding 0.6% ahead of its third-quarter earnings report scheduled on Friday.

Sobha Ltd gained 7.7% after the real estate company said its third-quarter total sales value jumped 22.3% to 8.88 billion rupees.

The MSCI world equity index rose 0.3%, as investors looked past violence in Washington and bet on a large U.S. fiscal stimulus package after Democrat victories in Senate runoffs in Georgia.

(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Krishna Chandra Eluri)

By Anuron Kumar Mitra


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AXIS BANK LIMITED -0.12% 728.75 End-of-day quote.7.40%
BANDHAN BANK LIMITED -0.92% 296.9 Delayed Quote.18.70%
BHARTI AIRTEL LIMITED 1.60% 715.3 End-of-day quote.4.60%
MSCI WORLD -0.53% 3082.251 Real-time Quote.-3.33%
NIFTY 50 -0.87% 17593.85 Delayed Quote.3.37%
NIFTY BANK -0.44% 37374.7 Delayed Quote.7.21%
NIFTY IT -2.13% 36223.3 Delayed Quote.-3.67%
SENSEX 30 -1.06% 59464.62 Real-time Quote.2.08%
SIMRAN FARMS LIMITED 4.98% 257.05 End-of-day quote.30.88%
SOBHA LIMITED -0.73% 1014.7 End-of-day quote.13.48%
TATA CONSULTANCY SERVICES LTD. -0.06% 3821.5 Delayed Quote.2.36%
VENKY'S (INDIA) LIMITED -2.97% 2654.85 End-of-day quote.-0.65%
YES BANK LIMITED 0.00% 13.8 End-of-day quote.-13.45%
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Analyst Recommendations on BHARTI AIRTEL LIMITED
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Financials
Sales 2022 1 156 B 15 505 M 15 505 M
Net income 2022 51 278 M 688 M 688 M
Net Debt 2022 1 341 B 17 995 M 17 995 M
P/E ratio 2022 87,7x
Yield 2022 0,24%
Capitalization 4 207 B 56 590 M 56 447 M
EV / Sales 2022 4,80x
EV / Sales 2023 3,95x
Nbr of Employees 18 363
Free-Float 37,6%
Chart BHARTI AIRTEL LIMITED
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Bharti Airtel Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends BHARTI AIRTEL LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Last Close Price 715,30 INR
Average target price 853,15 INR
Spread / Average Target 19,3%
EPS Revisions
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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