Bharti Airtel inches towards 52-week high on strong earnings outlook

Shares of Bharti Airtel hit an over 5-month high of Rs 565, up 3 per cent on the BSE on Tuesday, on strong earnings outlook, steady 4G subscriber additions — which are likely to see 2-3 per cent quarter on quarter (QoQ) average revenue per user (ARPU) growth — and strong EBITDA (earnings before interest, taxes, depreciation, and amortization) growth, analysts said.

The stock of the telecom services provider was trading at its highest level since August 10, 2020. Moreover, it is 8 per cent away from its 52-week high of Rs 612 touched on May 20, 2020. In the past six months, Bharti Airtel has underperformed the market by falling 2 per cent, as compared to a 35-per cent rally in the S&P BSE Sensex.