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On September 15, 2024, Bharti Airtel, a leading player in India’s telecommunications sector, achieved a milestone by reaching an all-time high in its stock price, hitting Rs.1655. This surge, marking a new 52-week high, underscores the company’s robust performance and growing investor confidence. MarketsMOJO has responded by issuing a ‘Buy’ call, reflecting a positive sentiment towards the company’s prospects.
Bharti Airtel: Jefferies has raised its target price range for Bharti Airtel to between ₹1760 and ₹1970 while maintaining a “Buy” rating. The brokerage expects multiple tariff hikes and projects a 5-9% increase in India’s revenue and EBITDA estimates for FY26/27. They believe the telecom company will sustain a premium valuation.
Tata Motors: Bank of America has set a target price of ₹1280 for Tata Motors, maintaining a “Buy” rating. The brokerage firm views the risk-reward ratio of the stock favorably, anticipating a potential upside of around 30% over the next year. They believe that the increased US JLR incentives are not a major concern. The impact on JLR volumes and margins is expected to be less erratic than feared. Additionally, the firm is optimistic about the commercial vehicle cycle and passenger vehicle model actions, expecting JLR to benefit from favorable mix and ASP tailwinds.
Adani Ports: CLSA has assigned a target price of ₹1764 for Adani Ports, retaining an “Outperform” rating. The brokerage firm sees the company as a strong player in the Indian economy. Core ports traffic is growing at three times the country’s growth rate. For 2030, the traffic guidance is set at 1 billion tons, implying a 15% CAGR and a 16% annual CAGR for five-year revenue and port EBITDA from FY24-29.
