Bharti Airtel share price hits new life high for 3rd session in row; stock up 37 per cent in 2 months

Bharti Airtel's share price for the third straight session has hit new life high to Rs 719.60 per share, up around 4 per cent on the BSE intraday trade on Wednesday. The counter for the first time ever has breached Rs 700 per share levels and soared almost 37 per cent since July 20, 2021. 

The stock has been surging on the multiple triggers from rolling out 5G solutions to entry-level tariff plans, similarly, from fundraising plans to venture into cloud gaming.  

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The second-largest telecom company earlier this month had informed exchanges through filing that Airtel demonstrates India’s first Cloud Gaming experience on a 5G network. 

The company further said, the popular gamers Mortal and Mamba push their skills on Airtel’s hyper-fast and ultra-low latency 5G test network to experience the future of gaming 

The 5G to massively accelerate the growth of India’s cloud gaming ecosystem led by a large youth population and deeper smartphone penetration, the company also said in a filing. 

In a recent source-based report, the government is also mulling a relief package, in this regard, it is likely to defer dues for the next four years, but instalments will have to be paid after five years. 

Earlier in August, the company’s board of directors also approved the fundraising plan of Rs 21000 crore through Rights Issue. “The board approved the issuance of equity shares of face value of Rs. 5/- each of the company on rights basis to eligible equity shareholders”, it said in a filing.  

The stock at around 10:51 am has been trading near life high levels up over 3 per cent to Rs 717.5 per share on the BSE, as compared to 0.42 per cent rise in the S&P BSE Sensex on Wednesday.