JPMorgan has maintained its ‘Overweight’ rating on Bharti Airtel, setting a target price of ₹1,970, indicating an 18% upside from the current market price (₹1,664 as of March 11). The brokerage remains optimistic about Airtel’s growth prospects, particularly due to its strategic partnership with SpaceX’s Starlink.
The agreement between Airtel and Starlink aims to introduce high-speed satellite internet services in India, significantly enhancing connectivity in rural areas. As part of this deal, Starlink equipment will be available in Airtel’s retail stores, allowing businesses to access Starlink services via Airtel’s infrastructure. However, the rollout is subject to pending regulatory approvals. Additionally, JPMorgan noted that Starlink’s pricing is likely to be positioned as a premium service, targeting high-value customers and enterprises.
On Monday, Bharti Airtel’s stock rose 2.03% to ₹1,664, reflecting positive investor sentiment around its expansion into satellite-based internet services. Analysts believe this partnership could strengthen Airtel’s market presence, particularly in underserved regions, while unlocking new revenue opportunities in premium broadband services.
Disclaimer: The above stock recommendations are based on brokerage reports and do not constitute financial advice. Investors are advised to conduct their own research before making investment decisions.
