JPMorgan has maintained its Overweight rating on Bharti Hexacom, keeping the target price at ₹1,630. The brokerage highlights Bharti Hexacom’s exceptional operational and financial performance, noting its ability to balance market share growth with a significant “social” impact through its business model. This social aspect of the company’s operations remains underappreciated by the market.
Bharti Hexacom’s strategic network expansion has bolstered its ability to cater to underserved areas, contributing to higher ARPU (average revenue per user) and greater market penetration. Furthermore, its alignment with environmental, social, and governance (ESG) goals adds an additional layer of attractiveness for long-term investors. The company continues to focus on structural cost efficiencies while targeting development goals, reinforcing its strong market position.
