Bharti Airtel, the second-largest telecom operator, has seen its stock or share price touch a lifetime high on Friday morning. This is good news for the investors of the company since the telco’s stock has been performing very strongly for the last few weeks. At the time of writing, Airtel’s stock price is Rs 749, which is 3.05% in the green. The telco’s stock touched a high of Rs 752.60 in the early trading session on Friday.
Telecom Stocks Performing Well on Friday
At the same time, even Reliance Industries Limited (RIL), the parent company of Reliance Jio, saw its stock price touching a lifetime high on Friday. RIL’s stock price hit a high of Rs 4,505.45 in the early trading session on Friday. At the time of writing, RIL is trading for Rs 2,491.10, which is 0.05% in the green.
Even Vodafone Idea (Vi), at the time of writing, is trading at Rs 11.30, which is 7.11% on the green. It is strange to see Vi’s stock price going up after the monthly results that came in yesterday. However, the telco must have benefitted from BSE’s Sensex crossing 60,000 points on Friday morning.
On Friday morning, all the telecom stocks are in the green, and two of them have even hit their lifetime high mark. This is a positive note for the new investors that are trying to come into the market.
As per the Telecom Regulatory Authority of India (TRAI), Reliance Jio added the most number of subscribers in the month of July 2021, followed by Bharti Airtel. Both Vodafone Idea and Bharat Sanchar Nigam Limited (BSNL) lost subscribers in the same month. The relief package and the nearby 5G era is going to help the stock prices of the telcos more in the near future. The only telco that’s in a confusing fix at the moment is BSNL which doesn’t know when it will be able to come out with live 4G networks.