Current Bharti Airtel Share Price Overview
As of 30 September at 13:00, the shares of Bharti Airtel are trading at ₹1708.15, reflecting a decrease of 1.56% from the previous closing price. The overall market sentiment is also down, with the Sensex trading at ₹84595.12, marking a decline of 1.14%. During today’s trading session, the stock reached a high of ₹1732.05 and a low of ₹1707.15, indicating some volatility.
Technical Analysis of Bharti Airtel
From a technical standpoint, Bharti Airtel’s stock is currently trading above its 10, 20, 50, 100, and 300 day Simple Moving Averages (SMA), but is positioned lower than its 5-day SMA. This suggests that while the stock maintains a generally strong performance over the longer term, it might be experiencing short-term hurdles. Support levels are identified at the 10, 20, 50, 100, and 300 day SMA, with resistance noted at the 5-day SMA.
SMA Values
The exact SMA values for Bharti Airtel’s stock are critical in understanding its price movements, although specific values are not provided in this summary. Investors are encouraged to monitor these indicators closely.
Pivot Level Analysis
According to classic pivot level analysis on a daily timeframe, key resistances for Bharti Airtel are positioned at ₹1760.27, ₹1782.33, and ₹1801.22. Conversely, critical support levels are at ₹1719.32, ₹1700.43, and ₹1678.37. These levels are essential for traders to recognize potential entry and exit points.
Trading Volume Insights
Until 1 PM today, the trading volume for Bharti Airtel on the NSE and BSE has seen an increase of 10.41% compared to the previous trading session. Volume is a significant indicator of market trends; a positive price movement paired with higher trading volume can indicate a sustainable upward trend, while a decline in price with increased volume may suggest a further downturn is possible.
Market Sentiment and Trends
Overall, Mint’s technical analysis indicates that Bharti Airtel is currently experiencing a strong bullish trend. This performance could attract more investors looking for potential upside in their portfolios.
Fundamental Analysis
From a fundamental perspective, Bharti Airtel boasts a Return on Equity (ROE) of 9.36%. The stock’s Price-to-Earnings (P/E) ratio stands at 102.21, and the Price-to-Book (P/B) ratio is at 11.17, indicating a premium valuation relative to its equity. These metrics are crucial for investors assessing the company’s profitability and growth potential.
Forecast and Target Price
The median 1-year forecast for Bharti Airtel indicates a potential upside of 3.53%, suggesting a target price of ₹1647.93. This outlook is vital for investors aiming to make informed decisions about their potential returns.
Shareholder Composition
As per the latest filings for the June quarter, Bharti Airtel’s shareholder structure shows 53.17% promoter holding, 6.46% mutual fund (MF) holding, and 24.62% Foreign Institutional Investor (FII) holding. This diverse composition reflects the confidence institutional investors have in the company.
Changes in Institutional Holdings
It is noteworthy that MF holding has decreased slightly from 6.63% in March to 6.46% in the June quarter, indicating a cautious stance by domestic funds. However, FII holding has increased from 24.35% in March to 24.62% in June, suggesting growing interest from foreign investors.
Market Comparison
The current market condition shows Bharti Airtel’s share price down by 1.56% today at ₹1708.15, while its competitors have exhibited mixed performances. Peers like Vodafone Idea, Tata Teleservices Maharashtra, and Railtel Corporation are experiencing declines, whereas Tata Communications shows an upward trend. It’s worth noting that both Nifty and Sensex are down by 1.07% and 1.14%, respectively, indicating a broader market pullback.
