Jefferies said India’s telecom sector posted healthy 15% YoY aggregate revenue growth in Q4, driven by a sharp rebound in subscriber additions.
The brokerage believes Bharti Airtel remains the preferred play on the sector’s ongoing profitability revival. In contrast, Vodafone Idea’s (VIL) continued subscriber loss and worsening mix are seen as positive for both Bharti and Reliance Jio.
Jefferies expects further sector consolidation benefits to accrue to Bharti, supported by premium positioning and superior execution.
Disclaimer: The views and target prices mentioned in this article are as stated by Jefferies. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
