New Delhi (Anish Yande): The share price for Bharti Airtel has jumped by 25% through October and November. The telecom operator had previously surpassed Jio in the recorded number of new subscribers for the September quarter. The share price of Bharti Airtel was at Rs 400 towards the end of October. The share price has risen to ₹494.50 on Saturday.
Airtel Surpasses Jio in New Subscribers:
In the recent data released by the Telecom Regulatory Authority of India, Reliance Jio received 1.5 million new users in September. Airtel had added 3.8 million subscribers in September.
The September quarter had reported substantial earnings in the September quarter. Within the second quarter, the net sales rose by 22% to Rs 25,785 crore. The consolidated net loss for Bharti Airtel has reduced to Rs 763 crore in the second quarter.
Within the year, the share price for Bharti Airtel has risen by 8.33%. Several experts have suggested buying Airtel's stock during the festive season with a target price of Rs 710.
Bharti Airtel's Acquistion of Bharti Infratel Ltd:
Bharti Airtel had acquired Bharti Infratel Ltd this week through their subsidiary, Nettle Infrastructure Investments Ltd. Bharti Airtel acquired a stake of 133 million shares in Bharti Infratel for ₹2,882.32 crores. The additional stake of 4.94% was acquired in the tower construction and operator by Bharti Airtel. Bharti Airtel previously had a stake of 23.04 percent in Infratel.
However, Reliance Jio retained the top position in the overall number of subscribers with 404.12 million users. Bharti Airtel follows after Jio with 326.61 million subscribers. Vodafone Idea follows after Bharti Airtel with 295.49 million users. BSNL and MTNL lagged at 118.89 million subscribers and 3.33 million users respectively.
The topmost telecom service providers in India are Reliance Jio with 405.65 million customers, Idea with 119.85 million users, Bharti Airtel with 166 million users, and BSNL with 24.83 million users. These telecom operators form 98.86 percent of the market share.
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