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    532454   INE397D01024

BHARTI AIRTEL LIMITED

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India's Bharti Airtel, Verizon tie up on video-conferencing tool

07/14/2020 | 05:55am EDT
The Verizon store in Superior

Bharti Airtel Ltd is partnering with Verizon Communications Inc's BlueJeans to launch a business-focused video conferencing tool, the Indian wireless carrier said on Tuesday.

Bharti Airtel Ltd is partnering with Verizon Communications Inc's BlueJeans to launch a business-focused video conferencing tool, the Indian wireless carrier said on Tuesday.

Airtel BlueJeans will be free for all business customers for three months and store all of its data in India, Gopal Vittal, Bharti Airtel CEO (India and South Asia) told a virtual news conference.

Tens of millions of Indians are working from home amid the coronavirus lockdowns.

They are using tools such as U.S.-based Zoom Video Communications Inc's app to connect with colleagues and customers.

"This work from home trend and this increasing trend towards conferencing and collaborating from remote areas is only going to grow," Vittal said.

"So we believe that this is a very nascent market - the penetration is low and the opportunity is very large."

Reliance Industries Ltd digital unit recently launched JioMeet, a video-conferencing app which offers Indian users free, 24-hour-long video conferencing calls.

Amitabh Kant, CEO of government think-tank NITI Aayog, endorsed JioMeet on Twitter, calling it a "major technological disruptor from India" and "better than Zoom".

An Indian ban on 59 Chinese origin apps has led many to promote the use of local apps, echoing Prime Minister Narendra Modi's call for "atma-nirbhar", or economic self-reliance.

India has said Zoom is "not a safe platform" and has issued guidelines to avoid unauthorised users from carrying out malicious acts while using the tool.

(Reporting by Sankalp Phartiyal; editing by Jason Neely)

By Sankalp Phartiyal

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED 0.38% 548.55 End-of-day quote.7.71%
RELIANCE INDUSTRIES LTD -0.71% 2105.7 Delayed Quote.6.06%
VERIZON COMMUNICATIONS -0.13% 55.88 Delayed Quote.-4.77%
ZOOM VIDEO COMMUNICATIONS, INC. -0.60% 359.23 Delayed Quote.6.50%
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Financials
Sales 2021 1 019 B 13 702 M 13 702 M
Net income 2021 -156 516 M -2 104 M -2 104 M
Net Debt 2021 1 388 B 18 652 M 18 652 M
P/E ratio 2021 -19,0x
Yield 2021 0,31%
Capitalization 3 011 B 40 447 M 40 468 M
EV / Sales 2021 4,31x
EV / Sales 2022 3,92x
Nbr of Employees 18 017
Free-Float 44,0%
Chart BHARTI AIRTEL LIMITED
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Bharti Airtel Limited Technical Analysis Chart | 532454 | INE397D01024 | MarketScreener
Technical analysis trends BHARTI AIRTEL LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Last Close Price 548,55 INR
Average target price 705,13 INR
Spread / Average Target 28,5%
EPS Revisions
Managers and Directors
Gopal Vittal CEO, Managing Director & Executive Director
Badal Bagri Co-Chief Financial Officer
Nakul Sehgal Co-Chief Financial Officer
Sunil Bharti Mittal Chairman
Randeep Singh Sekhon Chief Technical Officer & Network Director
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