Buy Bharti Airtel, target price Rs 698.8: ICICI Direct

ICICI Direct has buy call on Bharti Airtel with a target price of Rs 698.8. The current market price of Bharti Airtel is Rs 695.6.

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 387572.36 Crore) operating in Telecommunications sector.


Bharti Airtel Ltd. key Products/Revenue Segments include Service Revenue and Sale of Products for the year ending 31-Mar-2021.

Financials
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
Price remains in uptrend sustaining above 13 day EMA &MACD in buy mode

Promoter/FII Holdings
Promoters held 55.9 per cent stake in the company as of June 30, 2021, while FIIs held 18.9 per cent, DIIs 18.9 per cent and public and others 6.3 per cent.