New Delhi: ICICI Securities has recommended stock market investors to buy shares of Bharti Airtel, and ICICI Direct Research has given a Buy call on VA Tech Wabag Ltd. The two brokerage firms shared the share price target and Stop Loss for the two mentioned stocks.
Bharti Airtel share price target
Giving a Buy rating on Bharti Airtel, ICICI Securities said that the telecom stock has the potential to rise and suggested a target price of Rs 1,500. Bharti Airtel share price ended at Rs 1,418 apiece on NSE on July 4, 2024. Bharti Airtel share price has jumped over 9 per cent in the last one month, around 35 per cent in six months and appreciated over 63 per cent in the past one year. Bharti Airtel shares were trading at Rs 1,419.35 apiece at 10 am on July 4, 2024.
VA Tech Wabag share price target
ICICI Direct Research is bullish on VA Tech Wabag and expected the counter to give around 21 per cent returns in the next six months. The brokerage advised the stock market enthusiasts to buy the stock with a target price of Rs 1,550 in six months. VA Tech Wabag shares were trading at Rs 1,326.15 apiece at 10 am on July 4, 2024.
Bharti Airtel 2023-24 financial results
Bharti Airtel posted quarterly revenues of Rs 37,599 crore in Q4 of 2023-24. The India business of the telecom giant recorded quarterly revenues of Rs 28,513 crore – up 12.9% YoY. The company’s overall consolidated EBITDA stood at Rs 19,590 crore; while India business posted EBITDA of Rs 15,293 crore.
Results for year ended March 31, 2024
Consolidated revenues at Rs 149,982 crore, up 7.8% YoY
Consolidated EBITDA at Rs 79,046 crore and EBITDA margin at 52.7%, up 115 bps YoY
India EBITDA at Rs 59,009 crore and EBITDA margin at 53.8%, up 162 bps YoY
Consolidated Net Income (before exceptional items) at Rs 11,305 crore
Consolidated Net income (after exceptional items) at Rs 7,467 crore
All about VA Tech Wabag
VA Tech Wabag (Wabag) a prominent player in the total water management
Industry. The company is ranked 3rd globally. It is engaged in the business of providing water solutions such as desalination, drinking and municipal water treatment, sludge treatment, industrial water & wastewater treatment etc.
“As of FY24, the company commands a reasonable order backlog of Rs 400 crore, which provides decent revenue visibility in the medium term. The company has participated in projects worth $1 billion in the international markets which we believe will drive order inflows in FY25E given domestic ordering in H1FY25 might be tepid on account of the general elections,” the brokerage firm stated.
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Stocks to invest in: ICICI Securities has given a Buy call on Bharti Airtel shares and and ICICI Direct Research has advsied investors to pump in money to purchase shares of VA Tech Wabag Ltd. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
