Global Markets
Home›Global Markets›Asia›Axis Securities targets Bharti Airtel at ₹2,530 for 40…
Axis Securities targets Bharti Airtel at ₹2,530 for 40% upside
The brokerage points to ARPU rising to ₹264, alongside quarterly additions of 3.3 million revenue-earning users and 5 million smartphone data users.
Axis Securities has reiterated a bullish stance on Bharti Airtel, assigning an Overweight call and setting a target price of ₹2,530 per share, which it says implies 40% upside.
The broker’s view highlights Airtel’s position as having the highest ARPU in the industry, and it links the trend to subscriber additions, customer upgrades to higher-value plans, and further expansion of network infrastructure and B2B opportunities.
In the quarter cited by the brokerage, Airtel’s Indian mobile business added 3.3 million revenue-earning users and 5 million smartphone data users, while its postpaid segment added 1 million new users, taking postpaid subscribers to more than 8% of the company’s total customer base.
Axis also said Airtel’s ARPU rose to ₹264 as 5G adoption increased and customers used more data, and it noted management expects additional ARPU growth tied to a potential repair in the industry’s tariff structure, with more direct charging for higher data consumption.