Telecom sector along with the digital and healthcare sectors will “continue to have a good run in 2021,” Axis Securities said in a report on Thursday. The company engaged in the distribution of financial services and broking services said that the three sectors were “promising even before COVID-19.” However, Axis Securities said that the “pandemic has resulted in business transformation decisions which were unthinkable a year back.” The company said that the telecom sector along with the healthcare sector has “seen massive changes” in the past year.
Bharti Airtel Set for More Upside in 2021
Axis Securities highlighted that the “business models are set to evolve further” with the companies engaged in the three sectors including telecom set to “outperform” in 2021. Crucially, Axis Securities said that Airtel with its “strong presence” in India and Africa along with its Direct-to-Home (DTH) and broadband services also registering “strong presence and highest penetration” in India will have more upside in 2021.
The company said that the demand for Airtel’s enterprise services is set to “remain robust” in the upcoming year. Axis Securities also highlighted the “key launches” of Airtel in the space including Airtel Blue Jeans, Airtel Secure, Airtel Cloud and Airtel IQ.
“Airtel has launched various products for enterprise as it is trying to leverage growth from ‘Work from Home.’ Focus on becoming a solution provider continues with its offering in Cloud, security, data centres and CPaaS solutions,” Axis Securities said in the report. “Adopting [a] partnership model to improve Cloud service offerings, it entered into a partnership with AWS Professional Services.”
Bharti Airtel Continues to Position As Digital Company
Axis Securities also highlighted that Airtel has witnessed traction across its digital apps with Airtel registering 160 million monthly active users in its second quarter across its Airtel Thanks, Wynk, Xstream and payment platforms. Further, the financial services company also highlighted that over 1.1 million retailers are making daily transactions and payments on the Mitra app, a dedicated platform for Airtel retailers.
“[Airtel] Management’s strategic bets in digital [platforms] continues to gain traction,” Axis Securities said in the report.
Crucially, Axis Securities also said that Airtel has continued to register “strong customer additions” in recent months as Airtel recorded 3 million active user additions in October, 2020.
Born in India, Yogesh loves to travel and has lived in multiple countries including New Zealand and Canada. His bylines can be found on various newspapers and blogs throughout the world, including Vancouver Sun, Surrey Now-Leader, Daily Hive , Investing News Network and Rach F1.