- Stock Surge: The stock price surged as much as 9.5% on July 16th.
- JPMorgan Bullish: This jump follows JPMorgan initiating coverage on the stock with an “overweight” rating, indicating they expect it to outperform the market.
- Price Target Upward: JPMorgan assigned a price target of Rs 1,280, suggesting a potential 20% upside from the previous closing price.
- Trading Activity Up: Trading volumes are also higher than usual, with 1.7 million shares traded by mid-morning, exceeding the one-month daily average.
- JPMorgan’s View: JPMorgan sees Bharti Hexacom as the best pure-play in the Indian market for communication solutions, particularly benefiting from its wireless presence compared to Bharti Airtel and Vodafone Idea.
- Growth Potential: The company operates in underpenetrated circles of Rajasthan and the North East, offering potential for subscriber and revenue growth due to lower telecom density, internet penetration, and postpaid mix.
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