Bharti Airtel hits all-time high on robust outlook; stock up 20% in 3 weeks

Shares of Bharti Airtel hit an all-time high of Rs 627.95, up 5 per cent on the BSE in the intra-day trade on Tuesday, on encouraging outlook. The stock of the telecom services provider surpassed its previous high of Rs 623, touched on February 4, 2021.

In the past three weeks, the stock has surged 20 per cent, as compared to a 4.9 per cent rise in the S&P BSE Sensex. Last month, the Supreme Court (SC) dismissed the application of telecom companies that sought recomputation of Adjusted Gross Revenue (AGR) dues demanded by the Department of Telecommunication (DoT). At the same time, the country’s premier communications solutions provider also upgraded its prepaid plans and postpaid plans.