Bharti Airtel is set to join an elite group of companies having market capitalisation (market-cap) of Rs 4 trillion after the company’s stock price continued its upward movement on the back of a slew of positive news. The stock hit a fresh record high of Rs 719.60, up 4 per cent on the BSE in intra-day trade on Wednesday.

In the morning trade, Bharti Airtel was trading 2.8 per cent higher at Rs 713.50, with a market cap of Rs 3.94 trillion. The company’s market price is a mere 1.2 per cent shy of the Rs 4 trillion mark. Bharti Airtel today surpassed state-owned banking giant State Bank of India (SBI) in market-cap ranking. SBI market-cap stood at Rs 3.88 trillion, the BSE data shows.

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In the past 13 trading days, Bharti Airtel share price has appreciated by 23 per cent after the telecom services provider, on August 30, announced its plan to raise funds to Rs 21,000 crore by way of the rights issue, primarily to fund its dues linked to adjusted gross revenue (AGR). Further, according to a media report, Google is now in talks to make significant investments in Airtel, thus boosting the stock.