Bharti Airtel climbs 5% on hopes of market share gain, hits 26-month high

Bharti Airtel’s stock price surged 5 per cent to hit 26-month high of Rs 499 on the BSE on Friday amid expectations that the telecom company is poised for strong market share gain.
The stock of the country’s largest integrated telecommunications company was trading at its highest level since November 2017. It is 6 per cent away from its all-time high level of Rs 527, touched on October 2007.

The Supreme Court Thursday rejected the review petitions filed by telecom companies to grant relief on adjusted gross revenue (AGR), which have to be paid before the deadline of 24th January 2020.

Last week, Bharti Airtel successfully raised $3 billion — $ 2 billion via qualified institutional placement (QIP) and $1 billion through foreign currency convertible bonds (FCCBs).