Bharti Airtel Ltd shares have continued their move, hitting a new high of Rs 779.70 on the BSE after rallying 3 per cent in Wednesday’s intra-day trade. In the past three trading days, the stock of the telecom services provider has rallied 9 per cent following the announcement of increased tariffs in a range of services effective November 26.
In the past month, the stock of Bharti Airtel has surged 12 per cent compared to a 3.3 per cent fall in the Sensex. Moreover, in the past three months, it has rallied 28 per cent against a 5 per cent rise in the benchmark index. Further, over the past six months, the market price of Bharti Airtel has zoomed 50 per cent, as compared to a 16 per cent surge in the Sensex.
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The decision, the company said, was for a “financially healthy business model”. The company hiked prepaid tariffs by 20-25 per cent and top-up data plans by 20-21 per cent. The company indicated that a tariff hike was taken to “provide a reasonable return on capital that allows for a financially healthy business model and that this level of Average Revenue Per User (ARPU) will enable the substantial investments required in networks and spectrum, including 5G.”
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