Bharti Airtel’s stock or shares today touched a lifetime high market of Rs 697. The rise in stock price came at a time when the other telecom stocks were falling. First of all, Bharti Airtel’s stock opened at Rs 692 and then touched a high of Rs 697 before closing at Rs 693.30. Airtel had previously closed at Rs 685.85. The price of the stock might have risen because of the delayed plans from Reliance Jio and Google in coming out with the super-affordable 4G smartphone namely ‘JioPhone Next’.
Bharti Airtel Stock Has Seen Immense Growth
Airtel’s stock has seen immense growth in the last few weeks. The major reason behind the rise in the stock price of Bharti Airtel is the announcement of fundraising plans. For the unaware, Bharti Airtel is planning to raise up to 21,000 crores through a rights issue.
On top of this, the market sentiment is favourable towards the duopoly of Reliance Jio and Bharti Airtel in the coming years if Vodafone Idea doesn’t get a relief package from the government. However, the relief package is already in the works and all that’s left is for the Cabinet to hear the proposal from the Department of Telecommunications (DoT).
The best thing for Bharti Airtel is that it will survive and thrive regardless of a relief package. If the relief package doesn’t come, Airtel will gain a lot of 2G customers of Vodafone Idea (Vi), in case Vi has to exit the market. But, if a relief package comes, then it also stands to help Bharti Airtel.
It will just be a bonus for Airtel as the telco will have even more reserves of cash to invest in its networks and purchase 5G spectrum to deliver consistent and great services throughout India. Bharti Airtel’s stock rising when other telecom stocks are falling is indicative of the positive market sentiment towards the telco’s future in India.
