Bharti Airtel shares hit all-time high as it expands its network in Gujarat

Bharti Airtel share price: Bharti Airtel shares in Tuesday's trade (September 24) rallied to a new 52-week high of Rs 1,767. The gains in the stock are spurred as the company informed that it rapidly expands its network in Gujarat, deploying 8 new cellular towers every day to bolster coverage across the state'' being issued by the company.

At the last count, shares of the telecom major traded with gains of 0.32 per cent at Rs 1,756.3 per share on the BSE. On the NSE, the stock was up 0.69 per cent at Rs 1,346.35 per share. Nonetheless its 52-week high marked today on the NSE is Rs 1,357.7 apiece.

Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today announced that it has made a concerted effort to bolster its network infrastructure across the western state of Gujarat.

Over the past seven months, the company has undertaken a massive deployment initiative, erecting more than 1,700 new cellular towers throughout the region. This equates to a remarkable pace of over 8 new towers being installed on a daily basis. With this enhanced infrastructure, the company aims to empower residents and businesses to seamlessly access Airtel's suite of cutting-edge voice, data, and digital services, it added.

Bharti Airtel technicals 

The stock is in the overbought zone with RSI placed above 70 mark at 81.5. Nonetheless, as the stock trades above its 200-day SMA which means long term uptrend.

Bharti Airtel share price performance 

In 3 years, the stock has gained 143 per cent, while in the last one year it has spurted 93 per cent.