Bharti Airtel regains Rs 2 trillion m-cap, stock surges 16% in one week

Shares of Bharti Airtel hit a 19-month high of Rs 397, up 4 per cent on the BSE on Monday, helping the telecom operator regain the Rs 2 lakh crore (trillion) market valuation-mark. At 02:52 pm, the company’s market capitalisation stood at Rs 2.02 trillion, BSE data showed.

The stock was trading in the positive zone for the fifth straight day, hitting its highest level since March 2018. In the past one week, it has rallied 16 per cent, as compared to a 2 per cent gain in the S&P BSE Sensex. The company has seen m-cap addition of Rs 27,662 crore during the period.

Last week, Reliance Jio (RJio) said it would charge 6 paise per minute on off-net calls. The move, analysts believe, would be viewed as sentimentally positive for the telecom companies.