Ten top loss-making companies, created an aggregate wealth of Rs 2,30,000 crore for investors since April 1, 2020, as investors put big bets on them in hopes of a turnaround in businesses. These have a combined loss of over Rs 82,000 crore in FY21.
Bharti Airtel narrowed its losses to Rs 23,328 crore in FY21 from Rs 32,955.30 crore in FY20, data compiled from corporate database AceEquity showed. Its shares have added Rs 56,691.89 crore in notional wealth since April 1, 2020. Post Airtel’s March quarter earnings in May, Goldman Sachs said the market was under-appreciating a ‘market share re-allocation scenario and believes one of the two outcomes - tariffs moving up or market share re-allocation – is highly likely in the near term. CLSA has a target of Rs 730 on the stock while Citi sees it at Rs 685.
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