MSCI said it will take a decision on increasing the weightage of the telecom services provider at upcoming index review in February
Shares of the telecom operator hit a seven-month high of Rs 601.8 on BSE
Jump in user base and margin improvement helped stock end with a gain of 3.3% in a falling market. Nevertheless, it shed 8.3% from day's high of Rs 488 to end at Rs 448
The brokerage notes that the pricing status quo is net positive for Jio and Bharti and negative for Vodafone Idea.
There could be earnings cuts and lower target prices if the hikes don't materialise this year
This modern optical network, Sterlite Technologies said, will enable Airtel to deliver world-class customer experience.
Within the promoter and promoter group, 100 per cent of votes cast were in favour of the scheme
The firm posted an over two-fold jump in profit before tax (PBT) of Rs 372 crore for the quarter before exceptional items
At 09:15 am; around 155.71 million equity shares representing 2.85 per cent of total equity of Bharti Airtel changed hands on the BSE, the exchange data show.
Tariff hike hopes and market share gains in the coming quarters could help sustain stock price
Telecom major Bharti Airtel was the stock of the day as it hit a new lifetime high of Rs 603 during the day
ICRA downgraded Bharti Airtel's long-term rating from "AA" to "AA-"on higher than anticipated provision for dues towards license fees on adjusted gross revenues (AGR) and spectrum usage charge.
The deal was made official in July this year when Bharti Airtel and Bharti Hexacom announced the merger of the consumer mobile businesses of TTSL and TTML with the two Bharti group firms
Moody's Investors Service placed the company's Baa3 rating on review for a cut to junk grade on November 8 on concern about weak cash flow generation
UBS and JP Morgan were joint placement agents for the transaction
The stock of Bharti Infratel, which manages telecom towers and communication structures for various mobile telephony operators, gained seven per cent over the past week. That was after brokerages upgraded it on expectation of higher orders from the Reliance Jio rollout, beside investor preference for companies with a stable revenue model. Nomura, which has increased its target price by 20 per cent to Rs 396 for the scrip, said in a report earlier this month that it expected the company to garner a sizable share of the rapid tenancy rollout by RJio over the next few quarters. Which, it said, would make up for the merger/acquisition or slowing in network capital expenditure by other telecom companies. The key overhang on the stock had been the estimated loss of tenancies by industry consolidation, both from the exit of weaker players and from mergers such as the one announced by Vodafone and Idea Cellular. The earnings' dent from tenancy loss (due to merger/consolidation) is expected to
Surge in stock boosted market valuation of the company by Rs 10,873.1 crore to Rs 1,48,983.10 crore