India's Bharti Hexcom rises; Jefferies initiates with "Buy", PT at 34% premium

Bharti Hexacom

16/04/2024 04:54

** Bharti Hexacom's  BHAX.NS  shares up 2.5% to 826.55
rupees; at current price they have gained ~1.6% since debut
trade on April 12
    ** Brokerage Jefferies initiates coverage on telephone
services provider with "Buy", PT of 1,080 rupees 
    ** PT at ~34% premium on last close
    ** Says BHAX's network expansion and superior execution have
driven strong market gains in FY20-24, which is expected to
continue 
    ** Its lower capex intensity enables a lower
net-debt-to-EBITDA ratio and should support higher returns on
capital employed (ROCE) - Jefferies 
    ** Sees delays in tariff hikes among key risks monitorable
    



 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))