Bharti Airtel hits fresh high, climbs 6% ahead of 5G launch

Shares of Bharti Airtel climbed nearly 6 per cent to hit a fresh high in Friday's trade, ahead of the launch of 5G services on October 1.

Emerging as the top Sensex gainer, the scrip surged 5.67 per cent to Rs 808.85 apiece on BSE, its fresh high.

Prime Minister Narendra Modi will launch the much-awaited 5G services in India on Saturday.

5G services, to be launched in select cities, will progressively cover the entire country over the next couple of years, PTI reported. The cumulative economic impact of 5G on India is estimated to reach $450 billion by 2035, as per the report.

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Brokerage Prabhudas Lilladher earlier this month said 5G could be a Rs 58,000-1,30,000 crore opportunity by 2027 across connectivity and enterprise market.

Bharti’s 5G plan will ride on use of existing 4G infrastructure along with 3.5GHz of midband spectrum that it acquired recently, it said, adding that the development may result in lower operating cost and better utilisation of existing assets, as 5G ecosystem user case develops.

"Also, Bharti’s leadership position in enterprise segment with 32 per cent revenue market share will ride on expanding market size i.e.2 times to Rs 70,000 crore by 2025 given its presence in IOT, CPaaS, data centre etc," the brokerage had in a September 5 note.