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Bharti Hexacom Gets 'Buy' Rating As Motilal Oswal Initiates Coverage, Sees 22% Upside
Motilal Oswal initiates coverage on Bharti Hexacom Ltd. with a Buy rating and a target price of Rs 1,625 (implying a 22% upside).
10 Mar 2025, 08:51 AM IST 
Hexacom in close competition with Reliance Jio on subscriber market share (SMS).
(Source: David Arrowsmith/ Unsplash)
Since Hexacom’s listing day, it has typically traded at a premium to Bharti Airtel. The premium looks optically higher as Airtel’s Ebitda includes full Ebitda contribution from Airtel Africa and Indus Towers, but holds ~61.5% and ~50% stakes.
