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Bharti Airtel Gains 9% Even After Massive Q2FY20 Loss; UBS Maintains ‘Buy'
Bharti Airtel in intra-day session on Friday gained as much as 9% to record a day's high of Rs. 395.45 on the BSE. This has come even as the telecom major hurt by AGR ruling of the Supreme Court has posted a huge loss of Rs 23,044.9 crore in Q2FY20.
The gains are led by brokerage firm UBS which has been optimistic on the stock and has maintained a buy call with a target price of Rs. 415 per share as the company has gone ahead with its investment in 4G network. Excluding one-offs, the company reported net loss of Rs 1,100 crore.
The stock of Airtel was last quoting at Rs. 385.95, up Rs. 23.30 or 6.42% on the BSE against previous close of Rs. 362.65 per share.
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