Bharti Airtel (Buy, TP: INR 1,400, 67%) Expect Enterprise to take the lead
Bharti’s share price has recovered largely we think on lower capex guidance, with the company indicating that 5G capex in India has already peaked. Our thesis is that while growth on consumer is likely to be held back by a lack of price increases ahead of the election, Enterprise is now big enough to drive growth itself we think.
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