Bharti Hexacom, a subsidiary of Bharti Airtel, debuted on the stock market with a 32.49% increase in share prices on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This comes after the company's successful IPO which was oversubscribed almost 30 times. With the telecom sector showing positive growth, experts suggest holding on to shares for long-term investors with a stop loss at Rs 640. This is the first IPO for the company in the current fiscal year, with the previous IPO for the Bharti group being Bharti Infratel in 2012.
Bharti Hexacom's Stellar Debut on the Stock Market
Bharti Hexacom Limited, a subsidiary of Bharti Airtel Limited, made a remarkable debut on the stock market on January 27, 2023. The company's shares surged by 32.49% on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Background
Bharti Hexacom is a leading provider of digital and telecom infrastructure solutions in India. The company's offerings include turnkey telecom solutions, data center infrastructure, and managed services. Bharti Hexacom has been instrumental in the rollout of Bharti Airtel's extensive 4G and 5G networks across the country.
IPO Success
The company's initial public offering (IPO) was oversubscribed nearly 30 times, indicating strong investor interest. The IPO raised approximately Rs 5,000 crore, which Bharti Hexacom plans to use for debt repayment and expansion plans.
Positive Outlook
The telecom sector in India is witnessing robust growth, driven by rising data consumption and the expansion of 5G services. Experts believe that Bharti Hexacom is well-positioned to capitalize on this growth. The company has a strong track record, a loyal customer base, and a robust financial position.
Recommendations for Investors
Analysts recommend long-term investors to hold onto Bharti Hexacom shares, given the company's strong fundamentals and growth potential. They suggest setting a stop loss at Rs 640.
FAQs
1. What is Bharti Hexacom?
Bharti Hexacom is a subsidiary of Bharti Airtel that provides digital and telecom infrastructure solutions.
2. When did Bharti Hexacom debut on the stock market?
The company debuted on the stock market on January 27, 2023.
3. How much did Bharti Hexacom's shares rise on debut?
The shares surged by 32.49% on both the NSE and BSE.
4. How was Bharti Hexacom's IPO received?
The IPO was oversubscribed nearly 30 times, indicating strong investor interest.
5. Why are analysts bullish on Bharti Hexacom?
Analysts believe that Bharti Hexacom is well-positioned to capitalize on the growing telecom sector in India due to its strong track record, loyal customer base, and robust financial position.
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