Chandan Taparia of Motilal Oswal Securities has a buy call on Bharti Airtel Ltd. with a target price of Rs 610.0. The current price of Bharti Airtel Ltd. is Rs 581.1 Time period given by the analyst is Intra Day when Bharti Airtel Ltd. price can reach defined target. Chandan Taparia recommended to keep a stoploss at Rs 567 .
Bharti Airtel Ltd., incorporated in 1995, has a market cap of Rs 317213.38 crore.
Investment Rationale
Heading for a major consolidation breakout of the last eight weeks with the support of 50-DEMA.
Quarterly Results Source: ETMarkets.com
Financials
For the quarter ended March 31, 2020, the company reported consolidated sales of Rs 23722.70 crore, up 8.09 per cent from last quarter sales of Rs 21947.10 crore and up 15.15 per cent from last year same quarter sales of Rs 20602.20 crore. The company reported net profit after tax of Rs -4885.50 crore in the latest quarter.
Promoter/FII Holdings
Promoters held 58.98 per cent stake in the company as of March 31, 2020, while FIIs held 19.35 per cent, DIIs 15.5 per cent and public and others 6.16 per cent.
