| 15. Rajan 3/5/2010 8:46:23 AM IST |
Price @BSE - Rs 293.1 when posted |
| Buy Bharthi for Targt of 350.Bharti is going to start there 3G network from April 2010.Strong Blancesheet is forcing for acquisitions in other emerging markets |
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| 14. deep agarwal 2/16/2010 3:39:33 AM IST |
Price @BSE - Rs 285.4 when posted |
Bharti to foray into teleport biz to expand footprint in media space
NEW DELHI: India`s largest telco in subscriber and revenue terms,Bharti Airtel is entering the teleport business, as it aims to expand its footprint in the media space.
Teleports are permanent satellite uplink infrastructure through which broadcasters beam their channels to satellites for transmission. |
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| 13. rajivbhandari 2/16/2010 3:38:15 AM IST |
Price @BSE - Rs 285.4 when posted |
| Indian telecom giant Bharti Airtel is set to buy a 70-percent stake in Bangladesh`s fourth largest mobile phone operator Warid from its Abu Dhabi-based owners, regulator. |
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| 12. suraj 2/2/2010 3:50:37 AM IST |
Price @BSE - Rs 310.7 when posted |
Bharti Airtel is up by 20% from it`s low.Stock is heavily recommended.
Almost every analyst on planel is giving a sell call. |
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| 11. Insight technical 11/23/2009 11:45:06 AM IST |
Price @BSE - Rs 278.70 when posted |
Bharti Airtel
BUY
Price: Rs289 Target Price (Sept 2010): Rs360
Roaming tariffs lowered ahead of MNP
* What`s new: Bharti Airtel (BRTI) has introduced a new tariff plan ‘Turbo`
wherein airtime charge for roaming calls have been slashed by 20-60%.
To enroll into this tariff plan, a prepaid sub is required to pay a fee of Rs98
(Rs99 for subs on per-sec billing) with a 1-yr validity, while a postpaid sub
needs to take a tariff plan entailing a monthly rental of Rs249 (Rs299 for
subs on per-sec billing). Pulse rate for calls while roaming remains 1-min.
* Analysis: [1] BRTI`s Turbo offering is an extension of its Freedom (1-
1.2p/sec) and Advantage (50p-60p/min) tariff plans. While airtime charge
on roaming calls drops from 20-60%, the enrolment fee is Rs98/99 (for a
prepaid sub) vs. Rs50/69 for the Advantage/Freedom plan. [2] Advantage
/Freedom subs need to pay the full enrollment fee (Rs98/99) to switch to
the Turbo plan. [3] Impact on ARPUs is highly sensitive to two variables –
proportion of I/O roaming calls and traffic elasticity. Assuming 10% of a
subscriber`s call traffic emanates from ‘national roaming`, BRTI`s overall
wireless ARPU could be dented by 4-5% assuming minimal traffic elasticity
(Exhibit 1). [4] Ignoring the proportion of I/O roaming calls for a sub, ballpark
calculations indicate that assuming zero elasticity, national roaming
ARPU for a subscriber could drop by 40% (Exhibit 2), implying overall
ARPU decline of 4% (we estimate ~10% of BRTI`s wireless revenues come
from national roaming). [5] 15% roaming traffic elasticity would reduce
the potential dent on wireless ARPUs to ~3%; if a Turbo plan subscriber
maintains his/her monthly outlay, BRTI`s ARPU would marginally rise.
* Implications: We maintain our earning estimates and BUY rating for BRTI
(TP of Rs360); advise investors to accumulate the stock with a 12-mth
horizon. Our wireless revenue forecast for BRTI captures a 9.4%/7.5% qoq
drop in BRTI`s wireless ARPUs in 3QFY10E/4QFY10E. We expect near term
price performance to be muted as competition peaks and impact of per-sec
billing on wireless revenues/margins manifest in 2HFY10 results.
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| 10. insight 11/9/2009 11:43:03 AM IST |
Price @BSE - Rs 311.85 when posted |
Bharti Airtel
BUY
Price: Rs320 Target Price (Sept 2010): Rs360
Accumulate for the long haul
* Maintain BUY, TP lowered to Rs360: We continue to advise investors to
accumulate BRTI with a 12-month horizon on bouts of price weakness over
the next six-month period as competition intensity peaks and impact of
per-second billing on wireless revenues/margins manifest in 2HFY10
results. Our revised SOTP-based 12-mth TP for BRTI comprises DCF-based
value of its core business (Rs295/sh) and fair value of its holding in Indus
Towers (Rs65/sh). On our FY11E estimates, at Rs360, BRTI would trade at
15.5x P/E and 8.7x EV/EBITDA.
* BRTI`s latest prepaid offerings yield a blended ARPM of ~Rs0.47:
As most operators, including BRTI, now offer similar priced unbundled per
second billing option to subs, propensity to switch operators and/or usage
of multiple SIMs for price arbitrage appears significantly reduced until
another bout of sharp tariff cuts manifest. By our calculations, BRTI`s 50-
60p/min and 1p/sec prepaid offerings are likely to yield a blended ARPM of
~Rs0.47 (prepaid/postpaid blended ARPM was Rs0.56 in 2QFY10).
* What`s changed: Besides incorporating 2QFY10 financials and revised
FY10E capex outlook, in view of BRTI`s latest tariff plans and sustained
pressure on ARPMs over the next six months, we lower our FY10E/11E/12E
EPS forecast for BRTI by 5.5%/8.4%/7.3% respectively. We now expect
BRTI`s EPS to stagnate in FY10E/FY11E (up merely 3%/2% YoY) before
rising ~15% in FY12E; implied FY10E-12E EBITDA/EPS CAGR is 8.5%/8%.
* BRTI remains best in class, to maintain 20%-plus RoE: We believe
BRTI`s long-term earnings catalysts and differentiators are intact – (1)
Margin sustenance due to inherent economies of scale and an integrated
business model, (2) FCF generation, balance sheet size and low leverage
provides flexibility in investment decisions (3G/BWA bidding, augmenting
non-wireless business) and corporate actions (M&A, share buybacks etc.).
Investment Summary – Accumulate, TP Rs360
We continue to advise investors to accumulate Bharti Airtel (BRTI) with a 12-
month horizon on likely bouts of price weakness over the next six months as
competition intensity (tariff wars, new launches) peaks and impact of persecond
billing on wireless revenues/margins manifest in 2HFY10 earnings.
Incorporating BRTI`s 2QFY10 financials, revised FY10E capex outlook, potential
dip in ARPM from recent prepaid offerings and high probability of sustained
pressure on realizations in the next few quarters, we lower our FY10E/11E/12E
EPS forecast for BRTI by 5.5%/8.4%/7.3% respectively (Exhibits 4,5). By our
calculations, BRTI`s Airtel Advantage (50-60p/min) plan and Airtel Freedom
(1p/sec) plan for prepaid customers are likely to yield a blended (voice + data)
ARPM of Rs0.47 (Exhibits 8-10); BRTI`s prepaid/postpaid combined ARPM was
Rs0.56 in 2QFY10.
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| 9. saha 10/11/2009 11:06:03 PM IST |
Price @BSE - Rs 0 when posted |
Buy@ Rs 351 For target of Rs 390 In 1 Week.
it will reach 390 |
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| 8. Mann 10/7/2009 9:58:12 AM IST |
Price @BSE - Rs 0.00 when posted |
Overall the trend remains positive for the counter.
So any dip in price levels from here will be taken as an opportunity to make fresh long position.
Next target is placed at 495-500. |
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| 7. Sanjay 10/6/2009 9:32:51 AM IST |
Price @NSE - Rs 400.25 when posted |
as we are seeing that Bharti is daily coming into limelight because of that MTN deal. since deal has been called off so what are the chances for the Bharti to catch up some momentum in the near future.
his this a time to park some money in Bharti around 430 per share or one should book the profit on the next bull rise of Bharti. |
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| 6. rangan 5/24/2008 1:36:52 AM IST |
Price @BSE - Rs 836.8 when posted |
Country's largest mobile service provider Bharti Airtel on Thursday announced a strategic tie up with global smartphone company HTC to offer a large-scale mobile broadband application, including seamless Internet and browsing experience.
Under this exclusive tie up, HTC Touch Diamond, the smartphone, will offer a wide range of services, including YouTube application for watching video content. Besides, it will give access to Airtel Live for providing entertainment on mobile.
The price of HTC Touch is Rs 27,500, HTC Corp President and CEO Peter Chou said.
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| 5. neha jain 5/12/2008 12:24:36 PM IST |
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| sorry for msg correct is bharti airtel wala msg yeh below 700 nahi rs below 800 jayega |
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| 4. neha jain 5/12/2008 9:35:10 AM IST |
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for intraday sellout bharti airtel on the rate of rs 830 u will get below 700 at rate of sl on rs 840 IF U LIKE MY CALLS SO U ALSO MAIL ON THIS 4 ME
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| 3. neha jain 5/12/2008 9:21:34 AM IST |
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| for intraday sellout bharti airtel on the rate of rs 830 u will get below 700 at rate of sl on rs 840 |
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| 2. Priya 1/15/2008 6:53:25 PM IST |
Price @BSE -Rs 857.3 when posted |
| do u think we can accumulate airtel,i added some @870 today |
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| 1. StockTip 12/11/2007 6:40:57 PM IST |
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Source:KRC Investment Ideas
CMP:870
6 Months Target:1350
Recommendation:Buy
Bharti Airtel Limited, a group company of Bharti Enterprises, is India's leading integrated telecom services provider with an aggregate of 50.95 million customers as of end of September 2007, consisting of 48.88 million mobile customers. Bharti Airtel has been rated among the best performing companies in the world in the Business Week IT 100 list 2007.
Bharti Airtel is structured into three strategic business units - Mobile services, Broadband & Telephone (B&T) services and Enterprise services. The mobile business provides mobile & fixed wireless services using GSM technology across 23 telecom circles. The B&T business provides broadband & telephone services in 94 cities. The Enterprise services provide end-to-end telecom solutions to corporate customers and national & international long distance services to carriers. All these services are provided under the Airtel brand. Airtel's high-speed optic fibre network currently spans over 55,574 kms covering all the major cities in the country. The company has two international landing stations in Chennai that connects two submarine cable systems - i2i to Singapore and SEA-ME-WE-4 to Europe.
The company is foraying into the entertainment distribution segment by launching IPTV (internet based TV) and direct to home (DTH) services by the end of the December '07 quarter. It is also planning to launch its mobile network in Sri Lanka, which is likely to be functional by March '08. Bharti is currently in the process of demerging its mobile tower business consisting of 50,000 towers. This is expected to improve operational efficiency of the parent company apart from unlocking shareholder value.
In terms of subscriber growth, the company has outperformed the industry by adding 6.2 million mobile users during the quarter, which marks the highest-ever customer addition during a three-month period by a wireless company in India. Bharti Airtel had 48.9 million mobile users and 2.1 million fixed line customers as of September 2007, taking its subscriber base to just under 51 million, up 78% when compared to a total base of 28.7 million during the corresponding period last year.
It has also increased its market share in the wireless space to 23.4% as against 21.4% in September 2006. The company's network now covers 65% of the country's population when compared to 50% in September
Network i2i is a 50:50 Joint Venture between Bharti and SingTel, connecting Chennai to Singapore. It transports voice and data traffic under our ILD License and represents the first private submarine network ushering the era of open global connectivity regime. The submarine cable terminates in the respective Landing Stations in Chennai and Singapore. For customers in India, they provide a single window account management to you and service providers.
Being long Distance Operator, they are able established interconnect arrangement with access providers (fixed line providers, GSM operators and CDMA operators), for establishing points of interconnect for collection & termination of voice traffic. Constant planning and monitoring with threshold and traffic profile based upgrade triggers is carried out, to keep the utilization of the point of interconnect under control and to handle any surge in traffic
Bharti Airtel and IBM are already working together to create the 'Mobile Wallet' software platform that will turn the mobile phone into a credit card and also offer a host of other services, including navigation for location-based services like accessing maps, information and directions. Bharti is expected to roll-out commercial services on the Western Union platform from the Q2 of 2008.
It also plans to expand coverage in Tamil Nadu. The company plans to add about 2,700 cell sites to its existing 4,000 by March 2008. This would result in expanding network coverage to about 17,000 villages (currently 10,000 villages are covered by Airtel) in Tamil Nadu. The company also plans to provide 100 per cent coverage on all national highways and 80 per cent coverage on all state highways and rail routes. The SMS capacity is being increased to 5,850 messages a second from 1,850 messages a second, as Tamil Nadu subscribers are the highest users of SMS. Airtel has about 50 lakh subscribers in Tamil Nadu with about 2.7 lakh new subscribers are being added each month During 2006-07, Bharti Airtel has entered into agreement with Microsoft to offer software and services for the Small and Medium business market in india. The company also has an agreement with Google to offer services on Airtel Mobile. Also an agreement with Adani Group to connect Mundra Port and special Economic Zone. A Three year contract with Nokia at an estimated value of US$400 mn to expand its managed GSM/GPRS/EDGE networks in eight Airtel circles and deploy a pan India WAP solution across its networks. A three year network expansion contract with Ericsson at an estimated value of USD 1 bn. An agreement with Microsoft to offer Microsoft's latest Windows Mobile 5.0 technology to its customers and also an agreement with IBM to deliver India's first Service Delivery Platform.
In August 2007, Wal-mart formally marked its entry into India by signing two agreements with Bharti Enterprises. Bharti will handle front end and Walmart will take care of the back-end supply chain management under Indian firm's Wholly owned subsidiary , Bharti Airtel Ltd. Secondly, a joint venture agreement of 50:50 for the whole sale cash and carry business and back-end supply chain management under the newly formed Bharti Wal-Mart Pvt Ltd.
Bharti has been reporting very high growth in the topline and bottomline, boosted by the buoyancy in the mobile subscriber base and a conscious effort to improve operational efficiency. Its topline grew at a CAGR of 57% in the past three years, while the bottomline saw a CAGR of 103%. The company has been able to improve profitability (profits as a percentage of topline) despite decreasing average revenue per user per month (ARPU). Operating margin (EBITDA/total revenue) expanded to 42.8% in the Septemebr'07 quarter from 39.1% during the corresponding quarter of the previous year. Net margin increased from 21.4% to 25.5%. During the same period, ARPU dropped by 16% to Rs 366.
The company is expected to remain a major beneficiary of the telecom boom in the country given its thrust on capital expenditure to improve network capacity. Its acquisition of undersea cable service i2i is likely to boost the performance of its long distance carrier business. Further, plans to enter into the entertainment distribution segment through IPTV and DTH services would start contributing to revenue from the fourth quarter. At the current valuations, the stock looks attractive given the company's future potential. Thus, we recommend investors to BUY the stock for investment. |
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