Hot stock tip! Bharti Airtel share price to soar, give 25 pct returns fast, say experts
Bharti Airtel share price is expected to hit Rs 500 per share levels on one-time provisioning of Rs 30,000 crore in Q2FY20 results, say experts.
Bharti Airtel's share price has been moving upward after the announcement of its Q2FY20 results. According to the stock market experts, the quarterly numbers of the telecom stock didn't look promising but the one-time provisioning of nearly Rs 30,000 crore by Bharti Airtel has boosted the confidence of the stock market investors in the company. Share market experts are of the opinion that one can buy the Bharti Airtel counter at around Rs 380-400 per stock levels for the target of Rs 500 in the next three months.
Why Bharti Airtel shares are rising
Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "Bharti Airtel has been moving upward only because of the one-time provisioning being done by the telecom major in its Q2FY20 results. It has boosted the market and investors' sentiment and this led to the recent rally in the Bharti Airtel shares."
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Bharti Airtel strategy for investors
Asked about the strategy that a share market investor should maintain in regard to the Bharti Airtel counter, Taparia said, "One can buy the counter at current levels for the immediate target of Rs 425."
Suggesting stock market investors wait for some profit-booking in the Bharti Airtel shares, Prakash Pandey, MD & CEO at Plutus advisors said, "Bharti Airtel share price has been on the upside since its Q2FY results were announced. So, profit-booking is awaited in the Bharti Airtel stock. My suggestion for the share market investors is to buy Bharti Airtel shares at around Rs 400 per stock levels for the target of Rs 480 to Rs 500 in the next three months until the Bharti Airtel's Q3FY20 results are announced." However, he strongly recommended Rs 360 stop loss to those who are thinking of taking a buy position in the Bharti Airtel counter.
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