Bharti Airtel share price hit an all-time high on Sensex and Nifty today despite the telco reporting a surprise loss of Rs 5,237 crore for the quarter ended March 2020. Share price of Bharti Airtel hit a record high of Rs 603 rising 12.05% compared to the previous close of Rs 538.15 on BSE.
The stock of Sunil Mittal-led telco closed 11.34% or Rs 61 higher at Rs 599.15 on Sensex. On Nifty too, Bharti Airtel stock was the top gainer ending the session 10.81% or Rs 58.15 higher at Rs 596.20.
Bharti Airtel share price climbed 12.16% to its record high of Rs 603.50 on Nifty compared to the previous close of Rs 538.05. The large cap stock opened with a gain of 3.87% at Rs 559 on BSE.
Bharti Airtel stock stands higher than 5 day, 20 day, 50 day, 100 day and 200-day moving averages. Bharti Airtel share has risen 82.56% during last one year and gained 31.45% since the beginning of this year.
Bharti Airtel reported a consolidated loss of Rs 5,237 crore for the January-March quarter of 2019-20 fiscal mainly on account of provisions for statutory dues.
The telecom firm took into account regulatory costs of Rs 7,004 crore related to the spectrum charges which resulted in a higher-than-expected loss. The company had posted a profit of Rs 107.2 crore in the same period a year ago.
Here's a look at why Bharti Airtel stock has risen today despite Rs 5,237 crore loss in Q4.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today