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Bharti Airtel hit an over six-month high of Rs 614 as they rallied 7 per cent on the BSE in intra-day trade on Thursday, in an otherwise range-bound market, as analysts believe the favorable industry structure of two players is a good enough kicker for an eventual hike in tariff as well as superior digital play in the medium to long term. The stock of the telecom services provider was trading at its highest level since February 11, 2021. It had hit a 52-week high of Rs 623 on February 4, 2021. In comparison, the S&P BSE Sensex was up 0.05 per cent at 54,396 points.
In the past three weeks, the stock has surged 17 per cent compared to a 2.3 per cent rise in the S&P BSE Sensex. Last month, the Supreme Court (SC) dismissed the application of telecom companies that sought recomputation. Adjusted Gross Revenue (AGR) dues demanded by the Department of Telecommunication (DoT).
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Bharti Airtel is India’s second-largest telecom operator, with a revenue market share of 35 per cent as of Q4FY21. The company has 321 million wireless customers in India and 121 million subscribers across operations in 14 African countries. It enjoys industry-leading ARPU (average revenue per user) and margins in the wireless business.
Stock Covered in the news
