Brokerages see up to 27% upside in Bharti Airtel post Supreme Court AGR ruling

Brokerages see up to 27 per cent upside in Bharti Airtel after the Supreme Court on Tuesday granted 10 years to telecom firms for paying the Adjusted Gross Revenue (AGR)-related dues to the Department of Telecommunications (DoT). The apex court also asked telcos to pay 10 per cent of the AGR-related dues by March 31, 2021.

ICICI Securities and Motilal Oswal retained their ‘Buy’ rating on the telecom major with a target price of Rs 700, indicating an upside of 27 per cent from the current market price. On the other hand, Julius Baer initiated coverage on the stock with a target of Rs 650.