Bharti Airtel joins the club of top five most valued firms
Following an intra-day hike of ₹591.95 at 10:21 am, Bharti airtel’s market capitalization hit ₹3.19 trillion. The stock was traded at ₹586.25 i.e. a 9% hike. By replacing Infosys Ltd. and HDFC Ltd, the company joined the club of the top five most valued companies.
The other companies in this club are Reliance Industries at the top with a market value of ₹9.3 trillion followed by Tata Consultancy Services Ltd at ₹7.30 trillion, Hindustan Unilever Ltd at ₹4.71 trillion and HDFC Bank Ltd at ₹4.6 trillion.
In the Q4FY20, the company had registered a loss of consolidated loss of ₹5,237 crores after paying statutory dues. Nevertheless, Bharti Airtel recently sprung back after the revision of prices. There was an increase of as much as 40% in December 2019. There was an addition to its 4G subscribers base and this lead to a strong average revenue per users (ARPU).
In December quarter itself, Bharti Airtel’s ARPU rose to ₹154 from ₹135. In comparison, its most prominent rival, Reliance Jio reported ARPU of merely ₹130.6.
“Subscriber adds were flat quarter on quarter at 284 million, but 4G subs grew 10% quarter on quarter to 136 million with 12.5 million fresh adds, garnering healthy >40% estimate incremental market share,” Motilal Oswal said.
In a statement on Monday, Gopal Vittal, CEO of Bharti Airtel said, “We continue to witness strong data traffic growth of about 74.1% year-on-year.”