Shares of Bharti Airtel fell 5 per cent from the day’s high to Rs 691 on the BSE before the company’s conference call this afternoon. The stock rose about 3 percent in the first trade but soon turned red. The telecom major posted a net profit of Rs 2,008 crore for the March quarter, up 142%. Analysts at Motilal Oswal Financial Services say AGR’s 4.7 per cent stake in Indus Tower, including interest-bearing capital, has limited opportunities to deliver (a net loan of Rs 1,235 billion) in the quarter, despite a 47 billion FCF generation, a key lease. Bharti Airtel has declared a dividend of Rs 3 per fully paid-up equity share for the financial year 2021-22.
In terms of transaction volume, a total of 4.56 lakh shares traded on the BSE, with 1.39 crore shares traded on the National Stock Exchange (NSE) so far this day. Bharti Airtel stocks rose nearly 6 percent in May, with significant support at around 650 levels, said Amar Deo Singh, chief adviser to Angel One. “Over 780 levels appear to be capped. Technically, stocks, from a long-term perspective, continue to be an uptrend. Investors are advised to keep an eye on the important levels mentioned above, ”Singh told FinancialExpress.com.
Analysts also said that despite the impressive Q4FY22 earnings where operating profit has shown tremendous improvement, net profit seems to have increased due to other earnings growth. “Technically, the 725 remains a strong resistance and should be purchased only if it closes above this level. There will be immediate and strong support at 680, ”AR Ramachandran, co-founder and trainer at Tips2Trades, told FinancialExpress.com.
“Although free cash flow has increased, Airtel has increased its net debt quarterly. Management’s comments on the delivering plan will be important to monitor, “INDMoney said in a report.
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