Bharti Airtel share price fell in early trade today after the Sunil Mittal-led telco lost over 11,000 subscribers in December. Airtel's customer base fell to 327.29 million, according to latest subscriber data from Telecom Regulatory Authority of India. Share price of Bharti Airtel dropped 2.78% to Rs 520.45 compared to the previous close of Rs 535.35 on BSE.
The stock opened flat at Rs 535 today. Total 3.33 lakh shares of the telco changed hands amounting to turnover of Rs 17.52 crore on BSE. Bharti Airtel stock has gained 81.11% during the last one year and risen 15% since the beginning of this year.
According to analysts' recommendations tracked by Reuters, 22 of 27 brokerages rate the stock "buy" or 'outperform', four "hold" and one "underperform". The stock hit its all-time high of Rs 568.60 on February 17 this year. The large cap stock hit its 52 week low of Rs 276.72 on February 26, 2019.
The marginal fall in subscribers comes after telcos raised tariff in early December. Airtel announced new plans which would cost up to 42% more.
Reliance Jio also rolled out new all-in-one plans with unlimited voice and data at up to 40 per cent higher price from December 6.
Vodafone Idea was the first to announce tariff hike with effect from December 3. The telco raised tariff by up to 50 per cent in its entry-level unlimited plan with a year-long validity of Rs 1,499 with 24 GB data usage limit in place of Rs 999 plan, which comes with 12 GB data usage limit.
By Aseem Thapliyal