Macquarie maintained underperform on United Spirits, CLSA downgraded Sun TV. Pernod India saw ~7% sales growth in Q3. United Spirits saw market share losses to Radico. Sun TV’s subscriptions-led revenue was a surprise. Morgan Stanley remained overweight on M&M and HDFC Bank. HDFC Bank announced plans for new product launches.
Airtel profit surges 33% to Rs 9,015 crore in Q2, outpacing Jio in ARPU growth
Bharti Airtel has reported a profit surge to ₹9,015 crore in the September quarter. Average revenue per user increased to ₹271, widening the lead over