New Street Research - Bharti Airtel (532454) New Street: Indian Mobile: Bharti – Subscriber growth opens a path to IRN 1,000 per share

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New Street Research

Chris Hoare

New Street: Indian Mobile: Bharti – Subscriber growth opens a path to IRN 1,000 per share

Bharti’s market share performance has dramatically improved recently, with the company adding 28m to its base in 6 months.

08/02/2021 9 EN

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Bharti Airtel

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New Street Research

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Chris Hoare

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New Street: Indian Mobile: Bharti – Subscriber growth opens a path to IRN 1,000 per share

Bharti Airtel (Buy, INR 2,070, +13%) Q4 FY25 Quick Take: Dividend doubled (again). Strong margins. Bodes well for Singtel.

Indian Telcos Q3 FY25 review: Sustained margin expansion from July’s price increase

EM FWA-Watch S-Curve continuing to accelerate in India, with implications for EM generally

VIPS 2Q25 Preview: Lowering 2Q Topline Estimates

Microsoft vs. OpenAI: Implications for investors?

SATS, Carr, and the Art of the No Deal…Yet

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