Bharati Infratel (BHIN)

Key Insights:

  1. Telcos incur uniformly high fixed costs for maintaining nation-wide networks. Hence, incumbents’ 4G investments will intensify. This will drive BHIN’s tenancy addition.

2.BHIN will transition to independent ownership in the next 12-24 months as incumbents face balance sheet constraints and have urgent cash needs.

Valuation: BHIN trades at 17x FY21E P/E (30% discount to global peers) and offers 6% dividend yield.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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