Bharti Airtel hits record high ahead of 5G services launch; stock soars 6%

Analysts at JPMorgan believe that Bharti Airtel is one of the key beneficiaries of Indian wireless market consolidation.

Shares of Bharti Airtel hit a record high of Rs 808.85, as they rallied 6 per cent in Friday’s intra-day trade, ahead of the launch of 5G services in India on Saturday, October 1.

The stock of telecom services provider traded higher for the fourth straight day. In the past one month, it has rallied 12 per cent, as compared to 4 per cent decline in the S&P BSE Sensex. The stock surpassed its previous high of Rs 797 touched on September 21, 2022.