Bharti Airtel share set to hit Rs 600 mark, says Anil SInghvi after approval for 100% FDI from DoT

Bharti Airtel share set to hit Rs 600 mark, says Anil SInghvi after approval for 100% FDI from DoT


Zee Business Managing Editor Anil Singhvi highlights that there was a time when 12 to 15 players were there in the Telecom Sector and after a major clean-up happened, there are only 3 players are left now. Reliance Jio and Bharti Airtel are 2 strongest players in the Telecom market.

Anil Singhvi says that the news around approval being granted by authorities for 100% FDI Investment is big for Bharti AIrtel. Capital requirement is one of the most important requirements for the Telecom sector. Telecom companies need to be up to date with the Technology. 5G technology will soon hit the markets, so before returns on investments done in 4G are recovered, telecom companies need to invest in 5G Technology. New technology needs bigger investment. 

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Anil Singhvi said that the target price on Bharti Airtel should be Rs 600 – Rs 625. There is a good chance of Rs 6500 cr to Rs 7500 cr of MSCI buying could happen in the counter going forward. Singhvi said that Bharti Airtel can see levels of Rs 600 today only. Seeing the strong price and volume action in Bharti Airtel share price yesterday, some positive news was expected in the counter. Bharti AIrtel stock may open gap up strongly and will remain in action through the day on strong volumes.

Some good move is expected in Vodafone Idea as well, the stock closed above Rs 12 yesterday and will remain in focus today as well.  

Bharti Airtel on Tuesday said pursuant to the FDI approval in January 2020 granted to it by the DoT, the company has received necessary approvals for its relevant downstream investments. Telecom operator Bharti Airtel has initiated process to increase foreign investment.

 





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