Airtel stocks touch 52 week high on back of tariff hikes

Bharti Airtel will increase tariffs across prepaid plans by 20-25% from November 26, saying average revenue per user (ARPU) needs to go up for a “financially healthy business model”. The announcement led to shares of the telco touch a 52 week high in the morning trading hours.

“Bharti Airtel (“Airtel”) 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,” said the telco in an early morning statement on Monday.

Shares of the telco touched a 52 week high at Rs 755.60 in the morning trading hours and then hover at Rs 752.75, up by 5.40% on BSE on Monday morning.