Bharti Airtel, Jio target share price pricing in 15-20% tariff hike: Gaurav Malhotra

Gaurav Malhotra, Executive Director, Axis Capital, says some part of the telecom tariff increase is absorbed and reflected in the share prices of Bharti and Reliance. So, our target price of Bharti is Rs 1534, for Reliance, it is Rs 3512 and I think around a 15-20% hike is getting priced in into these stocks as we speak.

The incremental news flow yesterday was that the telecom auctions got done. It, happened fairly quickly, less than one-and-a-half days to be honest and the overall amount was close to Rs 11,340 crore. Was this largely on expected lines or were you a bit disappointed by the muted participation?