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Bharti Airtel gains on 3G services price hike hopes

Capital Market 

Bharti Airtel rose 1.71% to Rs 431.45 at 11:15 IST on BSE on hopes the company will hike the prices of 3G services in more circles.

Meanwhile, the BSE Sensex was up 44.96 points, or 0.16%, to 27,775.17.

On BSE, so far 87,000 shares were traded in the counter, compared with an average volume of 3.67 lakh shares in the past one quarter.

The stock hit a high of Rs 434.20 and a low of Rs 427 so far during the day. The stock hit a 52-week high of Rs 437.20 on 19 June 2015. The stock hit a 52-week low of Rs 326.75 on 14 July 2014.

The stock had outperformed the market over the past one month till 22 June 2015, rising 7.38% compared with 0.81% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.53% as against Sensex's 1.88% fall.

The large-cap company has an equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

As per recent reports, the company hiked data charges of 2G and 3G services by 13-18% for its pre-paid customers. The 3G charges for 1GB have been hiked to Rs 299 against Rs 255 earlier valid for a period of 28 days. Further, 2G charges for 1GB has been raised to Rs 199 compared with Rs 176 valid for a period of 28 days.

Bharti Airtel's consolidated net profit rose 30.5% to Rs 1255.30 crore on 3.6% growth in net sales to Rs 23015.50 crore in Q4 March 2015 over Q4 March 2014.

Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa.

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First Published: Tue, June 23 2015. 11:10 IST