Bharti Airtel shares jump nearly 4 pc after tariff hike announcement
During the day, it jumped 5.85 per cent to its 52-week high of Rs 756.On NSE, it gained 3.88 per cent to close at Rs 742.10.In volume terms, 7.94 lakh shares were traded on BSE and over 3.68 crore on NSE.
- Country:
- India
Shares of Bharti Airtel on Monday gained nearly 4 per cent after the company announced a 20-25 per cent tariff hike for various prepaid offerings.
The stock gained 3.90 per cent to close at Rs 742.05 on BSE. During the day, it jumped 5.85 per cent to its 52-week high of Rs 756.
On NSE, it gained 3.88 per cent to close at Rs 742.10.
In volume terms, 7.94 lakh shares were traded on BSE and over 3.68 crore on NSE. Telecom operator Bharti Airtel on Monday announced a 20-25 per cent tariff hike for various prepaid offerings, including tariffed voice plans, unlimited voice bundles, and data top-ups.
The entry-level tariffed voice plan has been hiked by about 25 per cent, while for unlimited voice bundles the increase in most cases is about 20 per cent.
The company said it has always maintained that the mobile Average Revenue Per User (ARPU) needs to be at Rs 200 and ultimately at Rs 300 to provide a reasonable return on capital that allows for a financially healthy business model.
''We also believe that this level of ARPU will enable the substantial investments required in networks and spectrum. Even more important, this will give Airtel the elbow room to roll out 5G in India,'' Airtel said in a statement.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Mumbai Police track down and retrieve Rs 82.55 lakh lost in cyber attack
LS Polls: EC Sends Out 20 Lakh Invites to Gujarat Voters to Boost Voter Turnout
Thane woman falls victim to Rs 5 lakh electricity bill scam
Domestic PV sales soar to record high of 42 lakh units in FY24: SIAM
Woman held with drugs worth Rs 5.20 lakh in Dombivali