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Team Research
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MOSL: MOrning India (29/June/22): 1. Bharti Airtel (Huge FCF opportunity calls); 2. Bandhan Bank; 3. EPL; 4. Gati; 5. Automobiles

Today’s top research idea

Bharti Airtel: Huge FCF opportunity calls

  • Over the last couple of years, though Bharti's operational performance has been strong, it has lagged in FCF generation and deleveraging that has posed a key concern for the stock.
  • FCF is a key factor in telecom business as technology upgradation continually keeps capex intensity high. However, we believe despite the upcoming investments in 5G, Bharti is witnessing a decadal shift in its FCF generation capability that could translate into healthy deleveraging.
  • We maintain our BUY rating on the stock with a TP of INR910.
  • Piping hot news

    Mukesh Ambani resigns from board of Reliance Jio, son Akash made chairman

    In the first clear signs of a succession plan being charted out at India's most valuable company, billionaire Mukesh Ambani resigned from the board of his $217-billion group's telecom arm, Reliance Jio, and handed over the firm's reins to elder son Akash. In a stock exchange filing, Reliance Jio Infocomm Ltd on Tuesday said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from the close of working hours on June 27, it said.

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