Vedanta26 min ago
Nuvama picks these telecom stocks; increases Vodafone Idea's target by 100%
- Written by ZeeBiz WebTeam
Published: 3:41 PM, Apr 24, 2024| Updated: 3:53 PM, Apr 24, 2024
Brokerage Nuvama has picked two prominent telecom stocks- Bharti Airtel and Vodafone Idea. The brokerage has increased target prices for both the stocks. While it has maintained its rating on Bharti Airtel, it has upgraded the rating for Vodafone Idea. The brokerage says that Vodafone Idea's FPO can be a turning point for the telecom sector. Know more about Nuvama's target prices and ratings for Bharti Airtel and Vodafone Idea, and the brokerage's views on the telecom sector.
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Bharti Airtel rating and target
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1/4Nuvama has maintained its 'buy' rating on the telecom giant and raised the target price to Rs 1,580 from Rs 1,305.
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Vodafone Idea rating and target
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2/4The brokerage has upgraded the rating on Vodafone Idea to 'buy' and raised the target price by 100 per cent to Rs 14 from Rs 7.
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Nuvama on Vodafone Idea
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3/4Nuvama says a tariff increase of 10% is expected in Q2FY25 and a 10% rise in the same in Q3FY26 is also expected. The brokerage says Vodafone Idea is likely to attract a capital investment of Rs 40,000 crore in the next 8 quarters. Vodafone Idea is expected to raise a debt of Rs 25,000 crore in Q2FY25, says the brokerage. Bharti Airtel and Reliance Jio also expected to increase their tariffs.
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Nuvama on telecom sector
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4/4Nuvama says Vodafone Idea's FPO can be a turning point for the telecom sector. It says the FPO has got great response from investors. Nuvama says an increase in tariff and support from the government can be major reasons behind a jump in the telecom sector. The brokerage says strong growth is possible in the telecom sector in the next 3 years.
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