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Cashback offer to drive ARPU growth for Airtel: CLSA

Indian market closed in the green for the third consecutive day in a row on Monday but could see some resistance on Tuesday amid weak global cues.

The Nifty50 closed 50 points higher at 17,945 while the S&P BSE Sensex rose 76 points to 60,135. Both benchmark indices witnessed profit booking in the second half of the trading session on Monday.

CLSA & Macquarie on Bharti Airtel
CLSA maintains a buy rating on Bharti Airtel with a target price of Rs 810. Cashback offer on 150 smartphones is likely to be ARPU accretive.

The investment bank is of the view that a cashback offer will boost 4G subscriber additions and reduce churn. Timing is positive ahead of Jio phone’s next launch in the month of November.
Another brokerage firm Macquarie maintains an outperform rating with a target price of Rs 851.02. ZeeBiz

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