- 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.
Next Post
Adani Wilmar Cooks Up $670 Million Stake Sale
Wed Jul 17 , 2024
Indian billionaire Gautam Adani and Singapore-based Wilmar International are indeed exploring the sale of a minority stake in their joint venture Adani Wilmar. This is to comply with shareholding regulations in India. Stake being sold: Up to 13% of Adani Wilmar, potentially in equal stakes by both Adani and Wilmar […]
