Shares of Bharti Airtel gained over 1 percent in Thursday morning trade after the company announced its entry into the advertising business with the launch of ’Airtel Ads’.

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Bharti Airtel said that the move will enable brands to pitch consent-based and privacy-safe campaigns to over 320 million customers across its various businesses like mobile, DTH and homes.

Airtel Ads leverages the company’s data science capabilities, and would enable brands to create deep engagement and high-impact campaigns for most relevant customer cohorts, the company said in a regulatory filing on Wednesday.

Global brokerage firm Morgan Stanley noted that the telecom operator has worked with 100 brands already and is looking at annualised revenue of Rs 100 crore.

The brokerage maintained an Overweight call with a target price of Rs 760 per share, implying an upside of about 30 percent from current levels of Rs 583.

Additionally, the company’s Mauritius based wholly-owned subsidiary Network i2i Limited has successfully priced the issuance of US $500 million 3.975 percent Subordinated Perpetual Securities.

“This forms a part of total debt fundraise of USD 1.25 billion by the company through issuance of its first-ever dual tranche of USD bond offering including the aforesaid issue of USD 500 million and issue of Unsecured Senior Fixed Rate Notes of USD 750 million by the company,” Bharti Airtel said in a regulatory filing.

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(Edited by : Nazim)