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Bharti Airtel remains top pick from telecom space, says CLSA

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CLSA retains 'buy' on Airtel, given its strong market-share defence and inevitable turn in revenues

Bharti Airtel remains top pick from telecom space, says CLSA
Brokerage firm CLSA on Tuesday picked Bharti Airtel as their top stock from telecom space as its 3G/4G addition over 11-months FY19 at 2.4 million is trending in-line with the firm's data subscriber addition estimates of 2.5 million/month.
The brokerage house retains 'buy' on Airtel, given its strong market-share defence and inevitable turn in revenues. It remains positive on Jio which is expected to emerge as the leading telco in 2019.
Indian mobile subscribers in the month of February increased to 2 million, with Reliance Jio adding 8 million, Bharti Airtel remains flat MoM (month-on-month) and Vodafone Idea losing 6 million.
“Over the past few years, Jio has gained 9 points and 24 percent market share, Airtel has maintained its market share t 32 percent and Vodafone Idea has lost 5 points to 37 percent,“ CLSA said.
It also added that 3G/4G subscribers now form 45 percent of the industry.
"Of the 10 million additions, 5 million were from smartphone users and remaining were from JioPhone additions. However, Airtel's push on bundled plans is helping the operator gain 3 points share in 3G/4G smartphone subscribers," the brokerage said.
Disclosure:
RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.
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