Bharti Airtel Stock Performance: Shares of Bharti Airtel, the country’s second largest mobile network operator, have seen a rise of 7.5% in the last four trading sessions. Today on Tuesday, the company’s shares jumped 6.07% to close at Rs 753.50. Bharti Airtel shares are trading near 52-week high. In fact, ever since the company updated the stock exchanges regarding the acquisition of Vodafone Group stake, Bharti Airtel’s shares have been witnessing a strong rise.
Brokerage House Bullish
According to market analysts, the chart pattern of the company’s shares is strong and there is a possibility of further upside in this. Experts are bullish on this stock and are advising to buy it. Motilal Oswal has a BUY rating on the Telecom stock with a target price of ₹910.
Vodafone’s takeover is behind the rise in shares, apart from this, there are many reasons due to which the buying in the stock has increased .. let’s know in details ..
Reason number-1 for the rise in shares
Bharti Airtel, along with its wholly owned subsidiary, has acquired 4.7% stake in Indus Towers from Euro Pacific Securities Ltd, the company said in a regulatory filing on Tuesday. “We would like to state that the company along with its wholly owned subsidiary, Natal Infrastructure Investments Limited, has acquired 127,105,179 equity shares (4.7 per cent) of Indus,” Airtel said. Let us tell you that telecom operator Vodafone Group Plc-affiliated Euro Pacific Securities has bought about 4.7 percent stake in Indus Towers at a price of Rs 187.88 per share.
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Reason number-2 for the rise in shares
Last week, the telco inked an agreement to buy a 7.04% equity stake in Avada Kenshorapur Pvt Ltd for a cash consideration of ₹1.74 crore. Avada Kenshorapur is a Special Purpose Vehicle (SPV) formed with the objective of developing, executing, managing and operating 10 MW Solar Power Generation Plants in the state of Karnataka.
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Reason number-3 for the rise in shares
Bharti Airtel hosted an analyst meeting on March 25 to outline its growth plans and opportunities. Management remained confident of maintaining strong revenue growth in the mobile business and non-mobile revenue growth is expected to accelerate in the coming years. While the digital business remains a core for growth in both the customer and venture segments, the company plans to monetize its payments bank and data center businesses in the future to unlock new business opportunities.