Bharti Airtel rings loudly as its arm planning to grow banking points, deepen product offering this year
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Bharti Airtel is currently trading at Rs. 882.85, up by 11.75 points or 1.35% from its previous closing of Rs. 871.10 on the BSE.
The scrip opened at Rs. 867.00 and has touched a high and low of Rs. 886.05 and Rs. 864.95 respectively. So far 45279 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 888.00 on 31-May-2023 and a 52 week low of Rs. 629.05 on 14-Jul-2022.
Last one week high and low of the scrip stood at Rs. 886.05 and Rs. 859.25 respectively. The current market cap of the company is Rs. 523828.50 crore.
The promoters holding in the company stood at 55.02%, while Institutions and Non-Institutions held 40.88% and 4.09% respectively.
Bharti Airtel’s arm -- Airtel Payments Bank is experiencing strong tailwinds of demand and will grow its banking points and deepen product offering range this year, as it looks to raise customer count and average realisation per user.
Airtel Payments Bank will also launch its physical debit card for rural banking consumers in September quarter (Q2FY24), having launched it already in urban markets. The payments bank has grown by a CAGR of 35-40 per cent between mid 2018 and mid 2023, and expects to close the June quarter (Q1) with an annualised run rate of Rs 1,600 crore.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
