Airtel tariff hike: Morgan Stanley ‘overweight’ on stock, Goldman says ‘buy on dips’

The company has expanded its 5G plus network to include all the northeastern states. Investors are advised by Goldman Sachs to buy the stock on dips, with the risk-reward being attractive.

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Bharti Airtel‘s stock price was trading at Rs 785.40, up Rs 6.30 or 0.81 percent on BSE on February 21. Global research firm Morgan Stanley maintained an overweight rating on the stock with a target of Rs 860 per share, as the telecom firm rolls out higher minimum recharge plans across two more circles, which could eventually be rolled out pan-India over the coming weeks.

The company has expanded its 5G plus network to include all the northeastern states. Investors are advised by Goldman Sachs to buy the stock on dips, with the risk-reward being attractive.

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Bharti Airtel has rolled out higher minimum recharge plans in Maharashtra and Kerala, introducing a new entry-level plan of Rs 155 with unlimited voice calls, 1 GB data, and 300 SMS. This move expands the total entry level tariff hike to 19 circles out of 22 circles, with only Kolkata, Gujarat, and Madhya Pradesh yet to see a price hike from the telecom operator.

The company’s spokesperson has said that the new plan is focused on providing a better customer experience, discontinuing metered tariffs, and providing greater flexibility, convenience, and superior value to customers.

Bharti Airtel, India’s second-largest telecom company, reported a 91 percent surge in consolidated net profit at Rs 1,588 crore for the quarter ended December 2022, compared to Rs 830 crore a year ago. The surge was helped by improved realisation along with strong 4G customer additions during the year.

The total revenue for the same period stood at Rs 35,804 crore, up 20 percent from Rs 29,867 crore reported in the corresponding quarter last year. Additionally, the revenue was up 4 percent sequentially, as reported by Bharti Airtel in an exchange filing.

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