Tag: Bharti Airtel

Bharti Airtel’s B2B arm to power 20 million smart meters for Adani Energy Solutions

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bharti Airtel has entered into a partnership with Adani Energy Solutions to power 20 million smart meters for the company with its IT solutions.

Airtel Business, the B2B arm of Bharti Airtel, is set to power a total of 20 million smart meters for Adani Energy Solutions with its transformative smart Internet of Things (IoT) solutions, the telecom operator said in a stock exchange filing on Tuesday, January 9. The smart meters are from the power utilities of Assam, Andhra Pradesh, Bihar, Maharashtra and Uttarakhand.

The country’s leading telecommunications service provider has stated that it will deliver reliable and secure connectivity for all the smart meter deployments of Adani Energy Solutions, making use of its robust nationwide communications network. Further, Airtel’s transformative smart metering solutions which are powered by NB-IoT, 4G and 2G will be useful in ensuring real-time connectivity and uninterrupted transfer of critical data between smart meters and headend applications.

The solution shall also have Airtel’s IoT platform, which is called ‘Airtel IoT Hub’ that allows smart meter tracking and monitoring with advanced analytics and diagnostic capabilities, along with providing real-time insights and services which are known to empower customers to enhance control over their energy consumption.

“The meters are critical building blocks for smart grids and fundamental enablers for the digitalisation of the power sector. Airtel expects its NB-IoT technology to play a significant role in the utilities space to connect and manage smart meters at scale with enhanced coverage, high reliability and security,” said Airtel Business (India) CEO Ganesh Lakshminarayanan in a press release.

Bharti Airtel Ltd shares were trading 0.7% higher at ₹1,056.2 per piece at 12:25pm on Tuesday, January 9.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Telecom outlook 2024: Experts weigh in on key sector drivers, Vodafone’s debt woes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Sanjay Kapoor, former CEO of Airtel, and Balaji Subramanian, Vice President of IIFL Securities discussed the major trends from tariffs to new technologies that could drive the telecom sector in 2024.

They also shared their view on Vodafone Idea’s debt pile in the context of the spike in its stock. Shares of the telecom service provider were up 10% on January 2 after having gained 21% on Friday, December 29.

The shares gained as the Vodafone management had earlier said that the promoters plan to infuse up to ₹2,000 crore by the end of the December quarter. There were also media reports that the government could sell its 33% stake in Vodafone Idea to Elon Musk, the owner of “X” and Tesla. However, Vodafone denied any such discussions in a stock exchange filing. 

“The moot question here is what happens to Vodafone Idea given the huge amount of debt that they carry. From a business perspective, I actually don’t see a business case where somebody from any part of the world will come and say, I am willing to fund this company, and bear all the debt burden that this company has, and catch up with the market players and compete with them and make a business virtue out of this going forward, I actually don’t see that happening,” Kapoor said.

Read Here | Vodafone Idea shares up 30% in two sessions; Fund raising clarity awaited

Read Here | Vodafone Idea Shares In 2023: Fund raise remains elusive with no clarity on 5G timelines

Subramanian said there is potential for promoters to inject equity into Vodafone Idea. However, there is still need for substantial investment, considering the looming moratorium on spectrum and adjusted gross revenue (AGR) payments until late 2025.

“…the government also has got an option to convert the principal during the moratorium into equity, which means that whoever enters the stock right now sees a significant dilution potentially. So that is why It makes things a little tricky,” he noted.

Also Read |Bharti Airtel Services to acquire 97.1% stake in Beetel Teletech

The telecom experts also shed light on the challenges for the telecom sector. Kapoor believes the biggest dilemma that most telecom companies face now is whether to double down on 5G or try and cover up the investments that have made since it’s become tough to monetise 5G. “There are more newer technologies coming in we are talking AI, we are talking IoT, we are talking storage,” he noted.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel Services to acquire 97.1% stake in Beetel Teletech

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 49.45 lakh shares or 97.1% stake in Beetel Teletech, another Bharti Group company, according to a filing.

Pegging the cost of acquisition at ₹669 crore, the filing said this acquisition is a part of the company’s strategy to enable indigenisation initiatives within its own ecosystem of telecom products in line with the Government’s policy of ‘Make In India’ and add distribution and service capabilities (including system integration) largely for the enterprise business.

“…as a part of group restructuring, Bharti Airtel Services Limited, a wholly-owned subsidiary company of Bharti Airtel Limited has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1% stake in another Bharti Group company, Beetel Teletech Limited, which also has 49% stake in Joint Venture having two manufacturing facilities which produce telecom and networking products including those qualifying for Production Linked Incentive (PLI) Scheme,” the filing said adding that this is a cash transaction.

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Consequently, Beetel will become a subsidiary of the company.

The acquisition is a related party transaction in terms of the provisions of SEBI listing regulations. Bharti Group companies namely Bharti Enterprises (Holding) Private Ltd, Bharti (RM) Holdings Private Ltd, Bharti (RBM) Holdings Private Ltd, and Bharti (LM) Enterprises Private Ltd hold a 97.1% stake in Beetel.

Beetel Teletech was incorporated on March 30, 1999.

On the strength of its in-house technical capabilities, relationship with global OEMs and channel composing of a large number of channel partners, distributors and retailers, it is engaged in designing and delivering technical solutions and services and distributing a wide range of products from IT peripherals, network and enterprise solutions to fixed landlines and mobile accessories.

Beetel distributes a host of leading brands including Avaya, HP/Poly, Samsung, Siemens, QSC, RADWIN, Ruckus, RAD, ADVA, and Actelis.

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Beetel also holds a 49% stake in a Joint Venture which has two facilities for the manufacturing of landlines, telecom, and networking products including products that are manufactured in compliance with the ‘Production Linked Incentive (PLI) Scheme to Promote Telecom and Networking Products Manufacturing in India’ notified by the Ministry of Communications, the BSE filing added.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel Block Deal: Stock dips 2% after 1.8 crore shares change hands

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of Bharti Airtel dropped more than 2% in morning trade on Thursday (December 7) after 0.8% equity shares worth ₹1,856 crore of the telecom firm changed hands in a block deal.

A total of 1.8 crore equity shares, amounting to 0.8 stake of the company, worth ₹1,856 crore were transacted on the exchange. However, the buyer and seller of the shares were not known immediately.

This comes a day after Bloomberg reported that the US private equity major Warburg Pincus would sell its stakes in Bharti Airtel and IDFC First Bank.

According to the report, the private equity firm aimed to raise $211 million by offloading a stake in Bharti Airtel through a block deal. It was expected to offer 17.5 million shares at a floor price of ₹1,005 apiece.

This is the second instance when Warburg Pincus is planning to divest its stake in the telecom firm. Earlier in June, it offloaded shares aggregating to ₹1,649 crore through its affiliate Lion Meadow Investment Ltd, through a block deal.

Earlier on Tuesday, the American private equity giant exited Computer Age Management Services Ltd (CAMS). Great Terrain Investment Ltd, an affiliate of Warburg Pincus, sold its entire 19.8% stake for ₹2,700 crore via a block trade.

Great Terrain Investment reportedly made a four-fold profit at exit.

Last week, Bharti Telecom Ltd (BTL), a key promoter company, acquired 1.35% shares of Bharti Airtel. Bharti Telecom acquired 1.35% shares of Bharti Airtel from Indian Continent Investment Limited (ICIL) through a block deal amounting to ₹8,301.73 crore.

Shares of Bharti Airtel were trading 1.93 lower at ₹1,004.20 apiece on BSE at 10:26AM.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Warburg Pincus set to sell stake in Bharti Airtel, IDFC First Bank after CAMS exit this week

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Warburg Pincus is offloading its stake in three portfolio companies, selling total shares worth over ₹5,000 crore this week, taking advantage of the window provided after the state assembly election run-up in equity markets.

After exiting Computer Age Management Services Ltd (CAMS) in a large ₹2,700 crore block sale, the US private equity giant is set to sell its stakes in Bharti Airtel and IDFC First Bank.

Warburg Pincus is set to raise $211 million in telecom major Bharti Airtel in a block deal, offering 17.5 million shares at a floor price of Rs 1,005 apiece, as per Bloomberg.

The PE firm-owned Cloverdell Investment is also likely to sell a 1.3% stake in IDFC First Bank through a block deal for $100 million at ₹85.7 per share, sources told CNBC-TV18.

Cloverdell Investment currently holds a 2.74% stake in IDFC First Bank, and after the 1.3% stake sale, it will be left with a 1.44% holding.

Cloverdell Investment (Warburg Pincus) likely to sell 1.3% stake in IDFC First Bank via block deal, sources to @VivekIyer72

Here’s more 👇 pic.twitter.com/ejulxEkaI6

— CNBC-TV18 (@CNBCTV18Live) December 6, 2023

Earlier on Tuesday, Great Terrain Investment Ltd, an affiliate of Warburg Pincus, sold its entire 19.8% stake for ₹2,700 crore via a block trade.

The promoter entity of CAMS offloaded 97.5 lakh shares of the company at ₹2,766.47 apiece, according to data from the BSE. Great Terrain Investment reportedly made a four-fold profit at exit.

“The promoter entity (Great Terrain Investment Ltd) had acquired the stake in 2018 at an average weighted cost of Rs 717.80 per share,” a media report said.

Meanwhile, equity benchmarks Sensex and Nifty rallied for the seventh straight session to hit fresh lifetime highs on Wednesday, driven by gains in index majors Reliance Industries, ITC, and L&T amid sustained foreign fund inflows.

The benchmark 30-share BSE Sensex surged 357.59 points, or 0.52%, to settle at a new record of 69,653.73. It rose to 69,744.62 during intra-day. The broader 50-share index Nifty also climbed 82.60 points, or 0.40%, to hit its fresh peak of 20,937.70.

—With inputs from Vivek Iyer and Abhishek Kothari

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel becomes the 8th company to surpass ₹6 lakh crore Mcap

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The full market capitalisation of Bharti Airtel (partly plus fully paid-up) hit ₹6 lakh crore for the first time on Monday, after Bharatiya Janata Party’s (BJP) resounding victory in state elections buoyed the overall market sentiment.

Share of Bharti Airtel added another 2% in Monday’s trade, taking their year-to-date gain to 28%. In contrast, the benchmark Nifty has gained 14.3% during the same period. The stock has been generating positive returns for the last five years, with 2019 being the highest. After a close to 60% surge in 2019, the stock of Bharti Airtel gained 12% and 37%, respectively in 2020 and 2021.

Other companies that surpassed the Rs 6 lakh crore milestone in the past include—Reliance Industries, TCS, HDFC Bank, ICICI Bank, HUL, Infosys, and ITC. However, an 8% drop in ITC stock since July 20 saw its valuation dropping below the mark.

The net profit of Bharti Airtel came in below street estimates in the second quarter of FY24 hurt by a one-time charge. Yet, the operating margin of the telecom provider expanded on the back of subscriber addition. According to Jefferies, the Q2 performance of Bharti Airtel was encouraging as the company added higher postpaid/4G subscribers, reported higher margin in India, while growth in Africa business helped improve free cash flow.

The brokerage which maintained its rev/EBITDA estimates, expects the company to deliver 16/17% India revenue/EBITDA CAGR over FY24-26. “This along with moderating capex will support deleveraging of $7 billion over FY25-26 which should add to stock returns,” wrote Jefferies in an investor note.

During the financial year 2023, Bharti Airtel had allotted as many as 39.23 crore shares at an issue price of ₹535 per piece (with ₹133.75 paid on application and the balance to be paid in two more additional calls as may be decided by the Board / Committee of the Board of the Company from time to time) to the eligible applicants under the rights issue.

Further during the year, the company also gave out ₹4 as a dividend for fully paid-up equity shares and ₹1 for partly paid-up equity shares. Each carries a face value of ₹5.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel block deal: Shares hit record high after 1.4% equity change hands

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bharti Airtel share price scaled a record high of ₹1,022.55 on the NSE in Friday’s trade after Bharti Telecom Ltd (BTL), a key promoter company of the telecom service provider, acquired 1.35% shares of Bharti Airtel. The scrip has gained 11% in the last six months.

Bharti Telecom has acquired 1.35% shares of Bharti Airtel from Indian Continent Investment Limited (ICIL) through a block deal for an amount of ₹8,301.73 crore.

About 8.12 crore shares or a 1.4% equity changed hands at a floor price of ₹1,023 per share in a pre-market large trade. The total value of the transaction was ₹8,286.30 crore. The block deal in Bharti Airtel was from one promoter to another promoter.

Following the latest block deal, ICIL’s stake in Airtel has dipped to 4.56%. As per Airtel’s September quarter shareholding filing, ICIL’s stake in the telco was earlier at 5.93%.

The telco’s stock saw strong buying interest in the recent trading sessions and crossed the ₹1,000-mark for the first time on November 29.

Bharti Airtel shares have gained Street attention since CNBC-TV18 reported that the Sunil Bharti Mittal-led telecom company has started the process of taking its subsidiary Bharti Hexacom public. Bharti Airtel has given positive double-digit annual returns on share price since 2019.

Brokerage view

Barring global brokerage JP Morgan, all major brokerages have a ‘buy’ rating on Bharti Airtel with a target price ranging between ₹1,070 to ₹1,110. JP Morgan has an ‘underweight’ stance with a target of ₹785. The bearish view is based on three factors:

We do not expect any tariff hikes to come through in CY23, given the focus of both Jio and Bharti on rolling out 5G services.

We expect capex to increase significantly for Bharti, as it will have to defend market share vs Reliance Jio.

Bharti won’t be able to monetise its significant 5G investments over the next three years.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel share price crosses ₹1,000 for the first time: What’s next for the telco?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bharti Airtel share price crossed the ₹1,000 mark for the first time ever, nearing a market capitalisation of ₹6 lakh crore. The telco’s scrip opened at ₹990.90 on NSE and hit the intra-day high price of ₹1,007.10.

Bharti Airtel shares have gained street attention since CNBC-TV18 reported that the Sunil Bharti Mittal-led telco has started the process of taking its subsidiary Bharti Hexacom public. Bharti Airtel has given positive double-digit annual returns on share price since 2019.

CNBC-TV18’s Reema Tendulkar discusses five key factors that have pushed the telco’s stock to new highs, the next targets from brokerages, and why JP Morgan is underweight on Bharti Airtel, taking a contrarian position despite a general bullish view on the Street.

Steady increase in ARPU

Bharti Airtel’s average revenue per user (ARPU) has steadily increased from Rs 163 in the third quarter of FY22 to crossing the ₹200-mark in the first quarter of the current fiscal. It further increased by ₹3 to ₹203 in the second quarter of FY24.

All-time high revenue market share

Bharti Airtel’s revenue market share was at an all-time high of 37.2%.

Strong postpaid subscriber additions

Bharti Airtel added a million postpaid subscribers in the second quarter of the current fiscal, which was at an all-time high. The previous quarterly run rate was around 400,000 until the first half of FY23.

Healthy India Mobile EBITDA margin expansion despite ongoing 4G and 5G investments

Bharti Airtel’s mobile EBITDA margin expansion has been healthy despite the ongoing 4G and 5G investments.

Healthy FCF generation despite high capex spend

Global investment firm Goldman Sachs says “Bharti’s India business generated US$1 billion in free cash flow (FCF) in 1HFY24 (excluding spectrum prepayment), and we forecast US$1.5 billion in FCF in FY24E, rising to US$3.5 billion in FY25.”

Brokerage view

Barring JP Morgan, all major brokerages have a ‘buy’ rating on Bharti Airtel with a target price ranging between ₹1,070 to ₹1,110. JP Morgan has an ‘underweight’ stance with a target of ₹785. The bearish view is based on three factors:

• We do not expect any tariff hikes to come through in CY23, given the focus of both Jio and Bharti on rolling out 5G services.
• We expect capex to increase significantly for Bharti, as it will have to defend market share vs Reliance Jio.
• Bharti won’t be able to monetise its significant 5G investments over the next three years.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel begins IPO process for its subsidiary Bharti Hexacom: Exclusive

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Telecom service provider Bharti Airtel Ltd. has begun the process of taking its subsidiary Bharti Hexacom public, sources with direct knowledge of the matter told CNBC-TV18. If it does materialise, it will be the first IPO from the Bharti Group after over a decade.

The last IPO to have come out from the Bharti Group was Bharti Infratel, now known as Indus Towers, which listed back in 2012.

Sources further said that Bharti Hexacom’s valuation is likely to be pegged at ₹20,000 crore and the listing process is likely to be completed by early-2024.

The parent company Bharti Airtel, which owns a 70% stake in Bharti Hexacom, has already appointed investment bankers like Axis Capital, SBI Cap, IIFL, and ICICI Securities to begin the IPO process, the sources said.

According to sources, the IPO is being aimed at giving the government-owned Telecommunications Consultants India Ltd. (TCIL), a partial or full exit. TCIL currently holds the remaining 30% stake in Bharti Hexacom.

Bharti Airtel’s subsidiary runs its telecom operations in the North East and Rajasthan circles.

In response to CNBC-TV18’s query, a Bharti Airtel spokesperson said that the company in its ordinary course explores various modes of raising funds, including, but not limited to raising funds by accessing the capital markets.

“The Company will make requisite announcements, if any, as required under applicable laws,” the spokesperson said.

Shares of Bharti Airtel are currently trading 0.2% lower at 969.05. The stock has risen 20% so far in 2023.

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3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Why Deven Choksey won’t put his money on Bharti Airtel in near-term?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Deven Choksey, managing director (MD) of DRChoksey Finserv is cautious on Bharti Airtel despite strong fundamentals. The portfolio manager with an AUM (assets under management) worth nearly ₹480 crore believes that the telco’s stock price may not see any significant upward movement in the near term as the market has already factored in positives.

“I would think that the company would remain strong going forward from a performance point of view. However, as far as the stock price is concerned, I see most of the things are already priced into the current price of the stock,” Choksey told CNBC-TV18 on November 1.

Choksey suggested that the market has already factored in positive expectations for Bharti Airtel, making it less likely to see significant upward movement in the near term. He also emphasized that opportunities might arise in a falling market.

His stance came a day after Bharti Airtel reported its second-quarter earnings, wherein the telco’s consolidated net profit dropped 37.5% year-on-year to ₹1,341 crore. It had reported a net profit of ₹2,145 crore a year ago in the same period.

More importantly, Bharti Airtel’s mobile average revenue per user (ARPU) increased to ₹203 in Q2 2024 against ₹190 in Q2 2023. [can add one line of ARPU comparison with Jio and Vodafone, to put this in perspective]

While Bharti Airtel’s 7.7 million 4G/5G net subscriber addition impressed brokerages, the Street punished the telco with its scrip falling more than a percent on Wednesday. However, buying on Thursday helped the stock settle with more than a percent’s gain at Rs 924.

Among major brokerages, CLSA has maintained a ‘buy’ rating on Bharti Airtel with a target of ₹1,110 per share. It says the company witnessed growth in home broadband and enterprise businesses.

Jefferies issued a ‘buy’ call on Bharti Airtel stock, with a target price of Rs 1,085 per share, on its continued encouraging performance in Q2 and higher postpaid/4G subscriber additions. Domestic brokerage Motilal Oswal also gave a ‘buy’ rating to Bharti Airtel stock. Goldman Sachs also raised the target with a buy rating, while UBS retained a neutral rating.

Among major brokerages, JP Morgan maintained an underweight rating with a target price of Rs 785. It said they don’t expect any tariff hikes in calendar year 2023 and concluded that Bharti may not be able to monetise its significant 5G investments over the next three years, as per telecomtalk.info.

The Telecom Regulatory Authority of India (TRAI) data released last month showed Reliance Jio gaining about 4 million subscribers, beating Airtel, which garnered about 1.5 million subscribers during the same period.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow