Bharti Airtel shares reach all-time high of Rs 628

Airtel’s share prices increased by 5%. In February, Airtel’s share price had reached Rs. 623. Analysts attribute Airtel’s growth to the telecom service provider’s new pre-paid and post-paid subscription plans.

Bharti Airtel’s share price on Tuesday increased by 5% to reach an all-time high of Rs 627.95. In February, Airtel’s share price had reached Rs. 623.

According to Business Standard, in the past three weeks, the stock has surged 20 per cent, as compared to a 4.9 per cent rise in the S&P BSE Sensex.

Analysts attribute Airtel’s growth to the telecom service provider’s new pre-paid and post-paid subscription plans. The ongoing tariff hike also contributed to the growth, Business Standard noted. 

“Although the recent tariff hike for selected customers is a clear positive, the same in the mass pre-paid segment remains key. The launch of JioPhone Next in September 2021 will be closely watched out for in terms of pricing aggression strategy. Despite high India Capex in Q1, management reiterated its unchanged annual Capex guidance of around Rs 24,100 crore for FY22”, analysts at Emkay Global Financial Services told Business Standard.

Analysts at ICICI securities told Business Standard, “ The strong margins traction and decent 4G net adds is a key positive. The non-wireless business momentum along with Africa’s performance continues to be robust. We see the favourable industry structure of three players (two being strong), a good enough kicker for an eventual hike in tariff as well as superior digital play in medium to long term.”

The April-June quarter (Q1FY22) results of Bharti Airtel showed a strong growth pattern with 4G adds, revenue mix improvement, and healthy cash flow generation. 

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