New Street Research - Bharti Infratel (534816) ... New Street: Bharti Reliance Industries Ltd Thoughts on Adani Group participating in 5G spectrum auction

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New Street Research

Chris Hoare

EUR 9211.00 For Business Accounts Only

New Street: Bharti & Reliance Industries Ltd Thoughts on Adani Group participating in 5G spectrum auction

Bharti shares slumped 5.1% yesterday after Adani Group’s foray into the 5G spectrum auction threatened to reverse the improving competitive landscape in India.

12/07/2022 1 EN

Underlyings

Bharti Infratel

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Reliance Industries Limited

Reliance Industries is primarily engaged in the production and market of petrochemical products, and refinery and retail of petroleum and LPG. Co.'s petrochemical products include polymer - polypropylene (PP), polyethylene (PE), poly vinyl chloride (PVC); polyester - polyester filament yarn (PFY), polyester staple fiber (PSF), polyethylene terephthalate (PET); polyester intermediates - paraxylene (PX), purified terephthalic acid (PTA), mono-ethylene glycol (MEG); and cracker products - ethylene, propylene and aromatics. Co. is also engaged in the manufacture of RELAB and textiles. Co.'s textile products are sold under the brand names: Only Vimal, Harmony, Reance, RueRel and V2.

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INE002A01018 National Stock Exchange of India India

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Analysts

Chris Hoare

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New Street: Bharti & Reliance Industries Ltd Thoughts on Adani Group participating in 5G spectrum auction

Indian Mobile Q4 FY24 review: Faster trends; Vodafone raises money finally

Reliance Industries (Buy, TP: INR 3,270, +11%) Q4 24 Quick Take: Topline accelerated again led by inflection in O2C; balance sheet further strengthened as capex moderates

Indian Mobile Q3 FY24 review: Still tracking well even without tariff hikes

US Cellular: is the market missing something?

VEON (Buy, TP: $40, +57%) YTD update implies better trends in April

PYPL US (Buy, TP: $80, +28%) PayPal Initiation - BUY: Life in the Fast Lane

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