Vodafone Idea, Bharti Airtel shares: Ratings, stock price targets & outlook
The long-term sustainability of Vodafone Idea Ltd (VIL) is still contingent on significant favourable government support, JM Financial said while expecting Bharti Airtel Ltd, Bharti Hexaware Ltd and unlisted Reliance Jio Infocomm are likely to get to net cash position by FY29-30. The brokerage said Bharti Airtel and Jio’s free cash flow (FCF) growth story stays intact on tariff hikes & capex normalisation.
The brokerage has reiterated its high-conviction ‘Buy’ on Bharti Airtel. It maintained its ‘Buy’ call on Bharti Hexacom Ltd and positive view on Jio. That said it maintained its ‘Sell’ recommendation on VIL and ‘Hold’ rating on Indus Towers Ltd.
Vodafone Idea target price: Rs 10
JM Financial said VIL’s recently concluded Rs 24,000…
