Bharti Airtel hits fresh peak, soars 5% on hopes of tariff hikes in 2024

Shares of Bharti Airtel (Airtel) surged 5 per cent on BSE to a fresh high of Rs 1,136 in Friday’s intra-day trade amid hopes of a strong year.

Analysts expect 2024 to be robust for the telecom industry with a mid-year tariff hike and moderation in capex.

At 01:47 pm, Airtel was up 3.3 per cent at Rs 1,123 as compared to a 0.7 per cent gain in the BSE Sensex. In the past one month, the stock has rallied 15 per cent against a 0.32 per cent rise in the benchmark.

In the last two years, Airtel has increased its investments as it expanded its rural coverage and rolled out 5G in urban markets.