Airtel stock scales Rs3 lakh cr market cap peak in intra day trade

New Delhi: Bharti Airtel hit an all-time high with its market capitalisation, for the first time, crossing the Rs 3 lakh crore mark, after a strong FY3Q for its India mobile services, and on expectations that wireless revenue growth will accelerate to around 20% on-year in the quarter to March, backed by the full impact of the tariff hikes.

Thursday, the stock touched an all-time high of Rs 552.85 on BSE, before closing at Rs 546.75, up 2.48% over the previous close, giving it a market cap of Rs2,98,282.60 crore. With this gain, shares of Airtel have soared over 60% in the past four months.

“Airtel is ticking all the right boxes – revenue growth is strong, competitive intensity is waning, margins are improving, market share is improving, capex has moderated and Airtel has strengthened its balance sheet,” brokerage firm BNP Paribas said in a report.