HSBC maintains 'Buy' on Bharti Airtel, sets target price at Rs 590

NEW DELHI: Global financial services company HSBC has maintained 'Buy' rating on telecom major Bharti Airtel with a target price of Rs 590.

As per recent news reports, the telecom firm has begun work on identifying use cases around the fifth generation (5G) technology while conducting technology lab test trials in the country.

The telco is also making efforts to leverage software-defined networking (SDN) and network functions virtualization (NFV) technology to optimise networks and launch new services as part of its strategy to transform into a digital telco, said an ET report.


HSBC expects the company to gain market share in the next 12 months.

At 10:26 am, shares of the company were trading at Rs 409.75 apiece on BSE, down 1.32 per cent.