Bharti Airtel was up 1.23% to Rs 528.90 at 10:31 IST on BSE after the company announced a strategic tie-up with Samsung to bring a range of affordable 4G smartphone options to customers.
The announcement was made after market hours yesterday, 4 January 2018.Meanwhile, the S&P BSE Sensex was up 160.03 points or 0.47% at 34,129.67.
On the BSE, 1.06 lakh shares were traded on the counter so far as against average daily volumes of 78.89 lakh shares in the past one quarter. The stock had hit a high of Rs 532 and a low of Rs 518.85 so far during the day. The stock had hit a 52-week high of Rs 565 on 3 November 2017 and a 52-week low of Rs 299.55 on 4 January 2017.
The stock had outperformed the market over the past one month till 4 January 2018, gaining 7.77% compared with the Sensex's 3.35% rise. The stock had also outperformed the market over the past one quarter, advancing 38.6% as against the Sensex's 7.26% rise. The scrip had also outperformed the market over the past one year, surging 66.28% as against the Sensex's 27.55% rise.
The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
Bharti Airtel said that the company and Samsung announced a strategic alliance to bring a range of affordable 4G smartphone options to customers. As a part of this alliance, four top models from Samsung's popular Galaxy J-series range will be available with attractive cashback offers, bringing down the effective price of the device and making them highly affordable for customers. All devices will come bundled with Airtel's special recharge pack of Rs 199 that offers 1 GB data per day and unlimited calling.
Bharti Airtel's consolidated net profit fell 63.7% to Rs 586.10 crore on 11.7% decline in net sales to Rs 21776.90 crore in Q2 September 2017 over Q2 September 2016.
Bharti Airtel is a leading global telecommunications company.
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