Shares of Bharti Airtel, one of India’s leading telecommunications companies, surged by as much as 3.1% to hit a 52-week high of Rs 1,628.25 per share on the NSE during Thursday’s intraday trade. The rise followed Airtel’s announcement of expanding its home Wi-Fi services across all 22 districts in the Union Territories of Jammu & Kashmir and Leh-Ladakh, covering an additional 1.1 million households.
In a separate exchange filing, the company reported completing the deployment of additional spectrum acquired in July 2024. The addition of 5MHz on the 1800 band is expected to boost Airtel’s 4G network capacity, enhancing data speeds and voice quality for customers in Chandigarh and Punjab.
“Airtel has secured an additional 97 MHz of spectrum for Punjab during the recent Spectrum Auction, giving it the largest pool of mid-band spectrum in the state. With its holdings across the 900, 1800, and 2300 bands, Airtel is well-positioned to meet the growing demand for high-speed data services with 4G and 5G networks,” the company said in its filing.
Additionally, Airtel Business, the company’s B2B arm, signed an agreement with Sparkle, an Italian telecom provider, to secure additional capacity on a low-latency route between Asia and Europe. This agreement includes access to the Blue-Raman Submarine Cable System, connecting India to Italy, enhancing Airtel’s global network to meet rising data service demands in India and surrounding regions.
As of today, Bharti Airtel’s market capitalization stands at Rs 9.09 trillion, with shares trading at a price-to-earnings ratio of 159.94 and an EPS of Rs 9.86, according to BSE data. At 2:18 PM, Airtel shares were up by 3.09%, trading at Rs 1,626.60 on the NSE, while the Nifty50 index was up 1.18%, trading at 25,213.
