“The company is an attractive midcap telco with a strong growth outlook. It is a pure-play regional telecom operator with healthy B/S,” said Citi in its note.
Citi stated that it is positive on India’s telecom sector and sees an improved likelihood of future tariff hikes in the company, which shows signs of waning competitive intensity.
Additionally, the global brokerage firm’s note also stated that the stock has outperformed meaningfully following its April 2024 listing and that it sees a stronger growth outlook, robust balance sheet, and superior return ratios versus the peers for Hexacom.
Meanwhile, another global brokerage firm Macquarie had also initiated coverage on Bharti Hexacom with an outperform rating and a target price of Rs 1,480.Macquarie has stated that Bharti Hexacom’s growth and return metrics are likely to tread similar to that of Airtel‘s India Mobile operations.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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