Bharti Airtel share price falls 5% from day’s high ahead of conference call; what should investors do post Q4-
时间:2024-06-26 07:15:26 阅读(143)
Bharti Airtel share price fell 5 per cent from day’s high to Rs 691 apiece on BSE on Wednesday, ahead of the company’s conference call this afternoon. The stock rose nearly 3 per cent in the early trade but soon turned red. The telecom major posted a net profit of Rs 2,008 crore for the March quarter, a 142% jump sequentially. Analysts at Motilal Oswal Financial Services said that the increase of 4.7 per cent stake in Indus Towers along with interest capitalisation of AGR liability had left limited scope for deleveraging (net debt at Rs 1,235 billion) despite Rs 47 billion of FCF generation in the quarter, which acted as a key negative. Bharti Airtel also announced a dividend of Rs 3 per share fully paid-up equity share for the financial year 2021-22.
In the traded volume terms, a total of 4.56 lakh shares exchanged hands on BSE, while 1.39 crore scrips traded on National Stock Exchange (NSE), so far in the day. Bharti Airtel stock has corrected by almost 6 per cent in May, with crucial support seen around 650 levels, said Aamar Deo Singh, Head Advisory, Angel One. “Upside appears to be capped around 780 levels. Technically, the stock from a long-term perspective, continues to be in an uptrend. Investors are advised to hold their positions, keeping a watch on the crucial levels mentioned,” Singh told FinancialExpress.com.
“Even though free cash flows have increased, Airtel has seen a rise in net debt during the quarter. Management commentary on deleveraging plans will be key to watch out for,” INDMoney said in a report.
The stock recommendations in this story are by the respective research analysts and brokerage firms. Financial Express Online does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.
上一篇:Is compounding truly the 8th wonder of the world-
下一篇:Year-Ender 2023- AI applications to look out for, now and beyond
猜你喜欢
- IPL 2023- Rinku Singh does it again for KKR, nerve-wrecking last over thrill still lingering - See Photos
- F&O watch- Nifty support at 15,500-15,600; check Nifty 50, Bank Nifty trading strategies for weekly expiry day
- IRFC stock surges to record high; check expert view on the stock and scope for profit booking
- Introducing Shivranjani Raje- Royal heiress of the world’s largest private residence with 347 rooms, host to Priyanka Chopra’s wedding
- IVCA forms new VC Council, Rajan Anandan named chairman
- ITC’s climb to a record high shows investor hunt for India stability amid Adani woes
- Invest in equity funds for inflation-beating returns, low-risk appetite investors can look at hybrid funds
- ITC, Ashok Leyland, IndiGo, Adani Enterprises, IDBI Bank, sugar stocks in focus on weekly F&O expiry
- Find out why brokerages are bullish on M&M Finance, what are the top drivers for the stock-