Bharti Airtel rises on planning to complete 5G rollout in urban areas this year
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Bharti Airtel is currently trading at Rs. 801.25, up by 1.55 points or 0.19% from its previous closing of Rs. 799.70 on the BSE.
The scrip opened at Rs. 799.20 and has touched a high and low of Rs. 806.50 and Rs. 793.15 respectively. So far 77364 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 877.10 on 25-Nov-2022 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. 806.50 and Rs. 783.60 respectively. The current market cap of the company is Rs. 477729.91 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 is planning to complete 5G rollout in urban areas and some key rural pockets this year and expects the investment in networks to hover around Rs 28,500 crore. The company has stopped making capacity expansion in 4G network as the company is seeing traffic offload of up to 30 per cent in areas where 5G has been launched.
The company's capital expenditure in India more than doubled to Rs 8,989.4 crore in the March 2023 quarter from Rs 4,276.7 crore a year ago. The majority of the capex of Rs 6,647.1 crore was deployed in the mobile business as the company continues to build up a pan-India 5G network. The company exited the fourth quarter and the fiscal year 2023 with the highest industry ARPU of Rs 193.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
