Bharti Airtel Surges 1.31% on Signing Smart Metering Deal with Adani Energy

9 Jan 2024 , 02:15 PM

Bharti Airtel Limited’s shares rise by 1.31% after signing a work agreement with Adani Energy Solutions Limited, securing a 32.78% market share in the telecom sector.

At the current moment, Bharti Airtel’s shares trade at Rs. 1062.75, up from the previous day’s close of Rs. 1049.05, with a market capitalization of Rs. 5,93,374 Crores.

Bharti Airtel will power over 20 million smart meters for Adani Energy Solutions using its smart IoT solutions.

The transformative smart metering solutions, powered by NB-IoT, 4G, and 2G, will ensure real-time connectivity and seamless data transfer between smart meters and headend applications.

Airtel’s IoT platform, the Airtel IoT Hub, will enhance smart meter tracking and monitoring with advanced analytics, diagnostic capabilities, real-time insights, and services for improved energy consumption control.

Adani Energy Solutions holds an order book of over 20 million smart meters from power utilities in Assam, Andhra Pradesh, Bihar, Maharashtra, and Uttarakhand.

Bharti Airtel Limited, a global telecommunication company, operates in segments such as mobile services, airtel business, home services, and digital TV services, serving over 530 million customers in 16 countries.

With a market share of 32.74% in telecom services, Bharti Airtel has a substantial infrastructure, including 260.4k towers, 11 data centers, 120 edge DCs, 7 submarine cables, 1.2 lakh crore of spectrum investment, 400k+ RKms of domestic fiber, and 365k+ RKms of global fiber network.

The company’s 5G rollout is on track, and it anticipates a moderation in capex in the coming year.

Bharti Airtel’s revenue from operations grew by 19.39% from Rs. 1,16,546.9 Crores in FY22 to Rs. 1,39,144.8 Crores in FY23, accompanied by increasing profits from Rs. 4,254.9 Crores to Rs. 8,345.9 Crores.

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