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Bharti Airtel stock hits new high after prepaid tariffs hike; Market cap crosses over Rs4 lakh cr

The new tariffs in three categories namely tariffed voice plans, unlimited voice bundles and data top-ups have been increased from their current prepaid prices.

November 22, 2021 10:45 IST | India Infoline News Service
Bharti Airtel
Telecom-giant Bharti Airtel stock was in a buying frenzy after the company hiked its prepaid tariffs with effect from November 26. The company was the top gainer on benchmarks and its market cap even crossed more than Rs4 lakh cr.

At around 10.41 am, Bharti Airtel was trading at Rs744.65 per piece up Rs30.45 or 4.3% on Sensex.

At the current market price, Airtel's market value crossed near Rs4.09 lakh cr.

The stock has hit a new 52-week high of Rs756 per piece in the early deals.

In the early morning of Monday, Airtel announced its new tariffs. The company takes a step in rebalancing its tariffs during November.

Airtel said, "has always maintained that the mobile Average Revenue Per User (ARPU) needs to be at Rs 200 and ultimately at Rs 300, so as 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 added.

The new tariffs in three categories namely tariffed voice plans, unlimited voice bundles and data top-ups have been increased from their current prepaid prices. 

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