Bharti Airtel Shares Slip 0.9% to ₹1,802.1 as CLSA Sees 27% Upside
Updated
Updated · CNBCTV18 · Jun 5
Bharti Airtel Shares Slip 0.9% to ₹1,802.1 as CLSA Sees 27% Upside
1 articles · Updated · CNBCTV18 · Jun 5
Summary
₹1,802.1 was Bharti Airtel's trading level on Friday morning, down 0.9% even after CLSA reiterated an outperform rating and set a ₹2,310 target price.
CLSA's bullish case hinges on unconfirmed plans for an Airtel Money Africa IPO that could raise $1.5 billion to $2 billion at a $10 billion valuation—about 60% of Airtel Africa's market cap.
Airtel Money's FY2026 revenue rose 36% to $1.4 billion and EBITDA climbed 31% to $689 million, with subscriber penetration still only 29% of Airtel Africa's 184 million mobile users.
Africa contributes about 25% of Bharti Airtel's consolidated operations, while Airtel Money makes up roughly 20% of the region, underscoring why investors are watching the unit closely.
The stock is still down 14.6% this year despite broadly steady quarterly results last month, including ₹7,325 crore net profit and a proposed ₹24-per-share final dividend.