More Stories

Informist, Friday, Oct. 18, 2024

MUMBAI - Shares of Bharti Airtel are expected to extend gains for the third straight week. However, its peer, Vodafone Idea, will likely notch a fourth straight week of losses, analysts said. Investors also await the September quarter earnings of Indus Towers, due Tuesday.

The sector will likely report a 6.7% growth in average revenue per user for the September quarter and a marginal dip in subscribers, a research analyst covering the sector at a domestic brokerage said, as a slew of corporate earnings continue to roll out. "Impact will differ according to the mix of India's wireless business," the analyst said. The impact of the tariff hike is expected to be reflected in the financials of these companies with a lag.

The outlook for Vodafone Idea remains weak. It is crucial for the company to fast track its capital expenditure, the analyst said. The company needs to work on increasing their average revenue per user, another analyst said. But before that, they need to stop customers who are switching to Bharti Airtel and Reliance Jio, the analyst added. Shares of Vodafone Idea closed 0.3% lower at INR 9.02 Friday.

Indus Towers' earnings before interest, taxes, depreciation, and amortisation is likely to grow 3% sequentially on the back of robust net tenancy additions and marginally higher average revenue per tenancy, Kotak Institutional Equities said in a report. The brokerage sees net tower additions of around 5,500 in Jul-Sept and net tenancy additions are expected to be around 8,000. This will be primarily driven by Bharti Airtel's continued rural rollouts, Kotak Institutional Equities said. 

TOP HEADLINES
* Bharti Airtel deploys additional spectrum in west Uttar Pradesh, Uttarakhand
* Analyst Concall: Tata Communications sees 20% EBITDA margin in FY25
* Earnings Review:Tata Comm Jul-Sept consol PAT up 3% YoY; data revenue up 21%
* Earnings Review: Tata Comm consol PAT up 3% on yr; data revenue up 21% on yr
* Bharti Airtel to acquire AMP Energy C&I Thirty for INR 78.58 mln
* RailTel Corp gets three orders worth INR 872 million
* Bharti Airtel arm to partner Vonage to launch Airtel IQ Business Connect app
* PRESS: Reliance Jio may sue govt for not auctioning satellite broadband
* HFCL launches two unlicensed band radio products to address data demands
* RailTel Corp gets order worth INR 798.4 mln from government housing agency
* Bharti Airtel arm, Kia India in pact to enchance connected car experience
* Airtel arm partners with Zscaler for cyber threat solution

Following are the resistance and support levels for the sector's key stocks for next week, as per calculations based on their prices on the National Stock Exchange:

End

Reported by Anjali Singh
Edited by Tanima Banerjee

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.