Tech view: Bharti Airtel may rally another 15% once it scales all-time high

On the monthly time frame, the breakout above Rs 500 levels earlier has triggered strong upward momentum

Bharti Airtel, in a regulatory filing, on Tuesday, said it is initiating the process to revise its foreign investment limit to 100 per cent, with immediate effect, after receiving required regulatory approvals for 100 per cent foreign direct investment (FDI) in its downstream companies. Consequently, the telecom company's shares rallied 6.35 per cent to Rs 601.70 on the NSE on Wednesday, trading close to its all-time high of Rs 612.

Post revision of its foreign investor limit, its weightage in MSCI should go up, resulting in significant inflows into the stock, ICICI Securities said in a note. The brokerage expects