Airtel dips 1.2% post-results as Citi flags ₹299 plan reversal; analysts hold Buy
Despite the subscriber miss, brokerages remain constructive on the stock
Bharti Airtel's shares declined 1.24% to ₹2,059.60 on the NSE following the company's second-quarter results, opening at ₹2,086 and trading with a slight sell bias. Despite strong Q2 FY27 numbers, the dip resulted from Citi's flagging of a reversal of its ₹299 prepaid recharge plan, which had been withdrawn three months prior. Citi maintained its Buy rating with a target price of ₹2,390, citing a rise in churn to 2.9% quarter-on-quarter and a sharp fall in net subscriber additions from 3.3 million to 0.7 million.
However, brokerages like Motilal Oswal and Elara Securities remain optimistic, with Oswal maintaining a Buy rating and higher target price of ₹2,395, and Elara Securities raising its target to ₹2,523, focusing on ARPU expansion as the key earnings driver.
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