Analysts bullish on Airtel, see investor returns of up to 27%

Mumbai: Analysts reiterated their bullish calls on Bharti Airtel and advised investors to buy the stock on the premise it can deliver returns of as much as 27% from current levels.

Shares of Bharti Airtel advanced as much as 1.3% in Thursday’s trading before closing the day at ₹800 on the NSE, up 0.98% from the previous close with a spike in trading volumes. More than 10 million shares exchanged hands on both exchanges, up nearly 2.3 times its combined average daily volume.

After market hours on Tuesday, India’s second-largest mobile operator reported a consolidated 50% year-on-year growth in fourth-quarter net profit that beat Street expectations, albeit with a softer India growth owing to aggressive capex.