If you invested in this IPO, your money could almost double in one year
Bharti Hexacom stock closed at ₹807.30 apiece on the NSE on April 15.
Today, April 16, saw a surge of over 8% in shares of Bharti Hexacom, a Bharti Airtel subsidiary, following the global brokerage company Jefferies initiating coverage on the stock with a ‘Buy’ rating and setting a price target of ₹1,080. With robust growth potential and robust margin expansion, Jefferies set the highest price target on the street for Bharti Hexacom. It suggests a 34% possible increase from the stock’s April 15 closing levels.
A provider of communications solutions, Bharti Hexacom serves the North East and Rajasthani telecom circles.
The current stock performance of Bharti Hexacom
On April 12, Bharti Hexacom’s shares made their market debut at a price that was 32% higher than its ₹570 issue price. On April 15, the stock ended trading at ₹807.30 per share on the NSE.
What was stated by Jefferies on Bharti Hexacom?
According to Jefferies, Bharti Hexacom is the finest investment in Indian telecommunications since the international brokerage anticipates a 21% compound annual growth rate (CAGR) in EBITDA during FY24–27 and a 16% CAGR in sales between FY24–2027. It stated that a 40% CAGR in FCF would be achieved by combining the moderation of outlay with the CAGR in sales and EBITDA. It further stated that Bharti Hexacom’s robust cash production should lead to a deleveraging of ₹5,500 crore (14% of market capitalization) and assist in bringing down the ratio of net debt to EBITDA to 0.4 times by FY27.
What was mentioned about Bharti Hexacom by JM Financial?
Prior to the company’s listing on the stock market, JM Financial began covering Bharti Hexacom and issued a “Buy” rating with a price objective of ₹790 per share. It stated that Bharti Hexacom Ltd. is a midcap pure-play on the growth narrative of structural wireless ARPU.
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