TELECOM Sector
JEFFERIES ON TELECOM : 12.01.2022
* Jefferies positive on telcos, says 2022 should be a good year for growth & margin
* Bharti Airtel Is Top Pick, Also Like Indus Tower
* 2022 Should Be A Good Year For Growth & Margin For Indian Telcos
• Don't Expect 5G Spectrum Auctions In 2022
• Telcos Should More Than Double Their FCF In FY23
* Big update on telecom : 11.01.2022
* Voda Idea approves availing 4 yr moratorium off AGR & spectrum instalment dues
* Bd approves conversion of Interest On Spectrum Installments, AGR Dues, Into Equity
* Equity Shares Will Be Issued To Govt At `10/Sh, After Confirmation By The DoT
CLSA ON TELECOM : 06.01.2022
* CLSA reiterates buy on Bharti, raise the target to Rs910/sh from Rs 863/sh. factor in 20% tariff hikes for Bharti, VI & Jio from H2FY22 TO FY24
* 2022 Will Have Three Key Trends In India Mobile
* Sector Revenue Would Grow Again, After Growing 15% YoY In 2021
* AGR Dues Would Likely Be
JEFFERIES ON TELECOM : 13.07.2021
* During Apr-21, sector's subscriber additions moderated to 2m due to lockdown
• Jio led the field with 4.8m net adds due to l JioPhone offer
• Bharti's subscriber additions moderated to 0.5m due to 4.5m urban subscriber
• High rural subscriber share will be targeted by Bharti and Jio
• Maintain Hold on Bharti Airtel
CLSA ON TELECOM
* CLSA continues to have Bharti Airtel as preferred pick in telecom space
* Bharti Remains Our Top Pick With 4G Penetration At 56% Of Its 321 m Subscribers
* Bharti Airtel Is Leading In 4G Additions, While Jio's Q4 Adds Boosted By JioPhones
* Mobile Data Traffic Increased 7% QOQ & 32% YOY Led By Bharti
* Voda Idea Reeling Under $24 Bn Debt Yet Co Is Confident Of Fund Raising
