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Shares of Bharti Airtel on Wednesday surged 2% on BSE to the day’s high of Rs 1,312.80 even after the telecom major reported a 31% year-on-year (YoY) fall in its consolidated net profit to Rs 2,072 crore for the fourth quarter, while the revenue from operations increased 4% to Rs 37,599 crore against Rs 36,009 crore for the same period last year.Airtel has posted an ARPU (average revenue per user) for the quarter stood at Rs 209 compared to Rs 193 in the same quarter of last year, driven by sustained focus on acquiring quality customers and mix improvement.Most brokerages have a neutral stance on the stock. Here’s what they have to say:Bank of AmericaBank of America states that Airtel’s ex-Africa revenues were in line with the estimates, however, EBITDA along with enterprise margins was a miss.BofA maintained a ‘neutral’ rating for the stock with a target price of Rs 1,430.UBSGlobal brokerage firm UBS mentioned that net adds were surprisingly positive although ARPU growth remained muted. While India business was in line with the estimates, Q4 was a miss owing to weak Africa business.UBS has a ‘neutral’ view of the stock with a target price of Rs 1,310.Motilal Oswal“Consolidated revenue/EBITDA declined 0.8%/2.3% QoQ to Rs 37,600 crore/ Rs 19,400 crore (in line/5% miss), led by currency devaluation in the Africa segment. India Mobile/Africa CC revenue grew 2%/3% QoQ and EBITDA was up 2%/down 1% QoQ,” stated a report by Motilal Oswal.The domestic brokerage firm has a ‘buy’ call on the stock, however, a target price will be given after the analyst conference call.Also read: India's weight in key MSCI equity index hits another high, to boost inflows(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Shares of TBO Tek debuted on NSE on Wednesday at a premium of 55%. The stock was listed at Rs 1,426 on NSE as against an issue price of Rs 920. On BSE, the stock debuted at Rs 1,380, a premium of 50%. Ahead of the debut, the company's shares traded at a GMP of Rs 375.The issue was booked over 80 times at close on strong interest from non-institutional investors. Ahead of the IPO opening, the company raised nearly Rs 697 crore from anchor investors.TBO Tek's appeal stems from its robust technological foundation. The company leverages a modular and scalable proprietary platform, enabling them to generate and utilize valuable data assets. This, coupled with a capital-efficient business model, positions TBO Tek for continued growth in the online travel sector.Also Read: Go Digit Insurance IPO. 10 things to know before subscribing to the issue"Despite the potential risks and the slight moderation in GMP, TBO Tek's strong fundamentals, innovative technology platform, and financial turnaround position it well," said Shivani Nyati, Head of Wealth, Swastika Investmart.The funds raised through the fresh issue would be used for the growth and strengthening of the company platform by adding new buyers and suppliers and towards unidentified inorganic acquisitions along with general corporate purposes.TBO simplifies the business of travel for suppliers such as hotels, airlines and retail buyers such as travel agencies and enterprise buyers that include tour operators, travel management companies through the two-sided technology platform that enables suppliers and buyers to transact seamlessly with each other.The platform connects over 147,000 buyers across more than 100 countries with over one million suppliers, as of June 2023. Recently, leading investment firm General Atlantic had acquired a minority stake in TBO.In 2023 the travel and tourism industry is estimated to recover at pace, growing 18% year-on-year from 2022 to reach $1.9 trillion, and is expected to grow at a CAGR of 8.2% to reach $2.6 trillion in 2027.Axis Capital, Goldman Sachs (India) Securities, JM Financial and Jefferies India acted as the book-running lead managers to the issue.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)