01-01-1970 12:00 AM | Source: Accord Fintech
Bharti Airtel moves up on planning to enter into multi-year agreement with Google
News By Tags | #51 #1720 #572

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Bharti Airtel is currently trading at Rs. 718.25, up by 11.05 points or 1.56% from its previous closing of Rs. 707.20 on the BSE.

The scrip opened at Rs. 718.00 and has touched a high and low of Rs. 752.80 and Rs. 702.00 respectively. So far 341189 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 781.90 on 24-Nov-2021 and a 52 week low of Rs. 490.36 on 25-Mar-2021.

Last one week high and low of the scrip stood at Rs. 752.80 and Rs. 677.50 respectively. The current market cap of the company is Rs. 424847.54 crore.

The promoters holding in the company stood at 55.93%, while Institutions and Non-Institutions held 38.85% and 5.21% respectively.

Bharti Airtel is planning to enter into long-term, multi-year agreement with Google to accelerate the growth of India’s digital ecosystem. Together, they will work to bring best-in-class end-to-end products to serve customer needs, provide quality customer experience, and bring their expertise to solve problems of affordability, access, and digital inclusion.

As part of this partnership, Google intends to invest up to $1Billion, as part of its Google for India Digitization Fund, which includes equity investment as well as a corpus for potential commercial agreements, to be identified and agreed on mutually agreeable terms over the course of the next five years.

As a part of its first commercial agreement, Airtel and Google will work together to build on Airtel’s extensive offerings that covers a range of Android-enabled devices to consumers via innovative affordability programs. Together, the companies will continue to explore further opportunities to bring down the barriers of owning a smartphone across a range of price points, in partnership with various device manufacturers.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.