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.”
Stock Covered in the news
