Bharti Airtel shares in focus today as telco buys stake in a solar power firm
Bharti Airtel share price today: The telecom stock rose to an intraday high of Rs 842.40 against the previous close of Rs 838.70. Market cap of the firm stood at Rs 4.69 lakh crore.
- Jun 22, 2023,
- Updated Jun 22, 2023 11:12 AM IST
Shares of Bharti Airtel Ltd were in focus today after the telecom firm said it inked an agreement for acquisition of 2,83,400 equity shares (12.07% stake) in Egan Solar Power Private Limited. The unlisted company is a special purpose vehicle (SPV) formed for the purpose of owning and operating the captive power plant, in terms of the regulatory requirement for captive power consumption under electricity laws.
Bharti Airtel stock rose to an intraday high of Rs 842.40 against the previous close of Rs 838.70. Market cap of the firm stood at Rs 4.69 lakh crore. The firm saw 0.12 lakh shares changing hands amounting to a turnover of Rs 1.01 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Airtel stands at 59.1, signaling it's trading neither in the overbought zone nor in the oversold zone. The stock has a beta of 0.7, indicating low volatility in a year. Bharti Airtel shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share hit a 52-week high of Rs 888 on May 31, 2023 and a 52-week low of Rs 629.06 on July 14, 2022.
Bharti Airtel reported a nearly 50 per cent year-on-year (YoY) jump in its fourth-quarter profit during the financial year 2022-23 (Q4 FY23). The telco’s consolidated net profit came at Rs 3,006 crore in Q4 FY23 as against Rs 2,008 crore in the same period a year ago. Airtel's revenue from operations jumped to Rs 36,009 crore in March 2023 quarter from Rs 31,500 crore in the corresponding period last year. The telecom operator also declared a dividend of Rs 4 per fully paid-up equity shares.
Also read; Brightcom Group shares halt 12-day winning run; stock up 259% from 52-week low; time to book profit?
Shares of Bharti Airtel Ltd were in focus today after the telecom firm said it inked an agreement for acquisition of 2,83,400 equity shares (12.07% stake) in Egan Solar Power Private Limited. The unlisted company is a special purpose vehicle (SPV) formed for the purpose of owning and operating the captive power plant, in terms of the regulatory requirement for captive power consumption under electricity laws.
Bharti Airtel stock rose to an intraday high of Rs 842.40 against the previous close of Rs 838.70. Market cap of the firm stood at Rs 4.69 lakh crore. The firm saw 0.12 lakh shares changing hands amounting to a turnover of Rs 1.01 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Airtel stands at 59.1, signaling it's trading neither in the overbought zone nor in the oversold zone. The stock has a beta of 0.7, indicating low volatility in a year. Bharti Airtel shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share hit a 52-week high of Rs 888 on May 31, 2023 and a 52-week low of Rs 629.06 on July 14, 2022.
Bharti Airtel reported a nearly 50 per cent year-on-year (YoY) jump in its fourth-quarter profit during the financial year 2022-23 (Q4 FY23). The telco’s consolidated net profit came at Rs 3,006 crore in Q4 FY23 as against Rs 2,008 crore in the same period a year ago. Airtel's revenue from operations jumped to Rs 36,009 crore in March 2023 quarter from Rs 31,500 crore in the corresponding period last year. The telecom operator also declared a dividend of Rs 4 per fully paid-up equity shares.
Also read; Brightcom Group shares halt 12-day winning run; stock up 259% from 52-week low; time to book profit?