Bharti Airtel likely to open higher as Jul-Sep consolidated PAT beats estimates



Shares of Bharti Airtel are likely to rise as its consolidated net profit for Jul-Sep of Rs 3.4 bln beatmarket estimates of Rs 2.97 bln, despite a rise in net finance cost and exceptional items.

The company stock's is likely to be aided by the news that several global investors interested in buying the company's stake in Bharti Infratel.

Bharti Airtel and its subsidiary Nettle Infrastructure Investments own 58% stake in Bharti Infratel.

Bharti Airtel Ltd ended at Rs 518, up by Rs 20.35 or 4.09% from its previous closing of Rs 497.65 on the BSE. The stock traded above its 50 DMA.

Bharti Airtel is a leading telecom player offering diversified telecom services, viz., wireless, fixed line, enterprise and DTH services. Airtel is India’s largest mobile operator with 24% subscriber market share and 31% revenue market share. The company's revenue has grown at 4.4% CAGR over FY13-17.





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