BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
We see two big rerating catalysts for India telcos, particular for Bharti Airtel Ltd.
sharp jump in Bharti India's free cash flow generation, which will help deleverage its balance sheet and allow equity value to grow faster and
post-tax return on invested capital jump, above weighted average cost of capital in FY25E, after a hiatus of eight years, enabling business to generate economic value.
Bharti India is expected to outperform its peers on many key parameters, including Ebitda, Ebit, FCF generation and posttax ROIC. Bharti Airtel has grabbed higher incremental market share in India mobile business, which we believe could sustain for a few more quarters, as Bharti India expands its rural presence.
We continue to prefer Bharti Airtel despite the recent jump in its stock price as Bharti's earnings have more tailwinds and valuations still do not appear very stretched.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
