OPEN APP
Home >Markets >Stock Markets >Bharti Airtel share price soared 25% in less than two months

Bharti Airtel has jumped 25% in less than two months to the current market price of 494.50. Bharti Airtel share price was hovering around 400 around 20th October. Robust earnings for the September quarter aided the telecom operator's stock prices to soar. Bharti Airtel narrowed its consolidated net loss to 763 crore in the second quarter, posting record consolidated revenue boosted by the continued recovery of its India business. Net sales or revenue was 25,785 crore, up 22% on-year in the second quarter, a seasonally weak quarter for the telecom sector.

According to the latest Trai data, Airtel added 3.8 million subscribers, while Reliance Jio added 1.5 million users in September. Vodafone Idea lost 4.6 million subscribers in the month.

Shares of Bharti Airtel on Friday gained 3.44% after telecom regulator data showed that it has gained 2.3 million more subscribers than Reliance Jio in September. The stock gained as much as 3.44% to hit a high of 496.70 a share.

Year to date, Bharti Airtel share price has risen by 8.33%. The telecom stock was recommended by most of the biggest brokerages in India as one of their top stock picks during Diwali. Kotak Securities recommended Bharti Airtel with a target price of 710 in a year's time.

Bharti Airtel recently made an unexpected move to increase its ownership in Bharti Infratel. The last anyone heard was that Airtel was looking to sell-down its Infratel stake and improve its own liquidity.

Bharti Airtel Ltd, through its wholly owned subsidiary Nettle Infrastructure Investments Ltd, on Wednesday acquired an additional stake of 133 million shares or 4.94% in tower company Bharti Infratel Ltd for 2,882.32 crore, according to a filing. Prior to the acquisition, Bharti Airtel and Nettle Infrastructure held 23.04% and 13.69%, respectively, in Bharti lnfratel.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout