Bharti Airtel trades marginally higher on joining SEA-ME-WE-6 undersea cable consortium
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Bharti Airtel is currently trading at Rs. 713.00, up by 0.30 points or 0.04% from its previous closing of Rs. 712.70 on the BSE.
The scrip opened at Rs. 706.00 and has touched a high and low of Rs. 714.60 and Rs. 702.75 respectively. So far 84509 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. 489.93 on 25-Mar-2021.
Last one week high and low of the scrip stood at Rs. 728.00 and Rs. 685.00 respectively. The current market cap of the company is Rs. 419198.60 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 has joined the SEA-ME-WE-6 undersea cable consortium to scale up its high speed global network capacity to serve India’s fast growing digital economy. The 19,200 Rkm SEA-ME-WE-6 will connect Singapore and France, and will be amongst the largest undersea cable systems globally. Airtel is participating as a major investor in the SEA-ME-WE-6 and is anchoring 20% of the overall investment in the cable system, which will go LIVE in 2025. The 12 other consortium members of SEA-ME-WE-6 include Bangladesh Submarine Cable Company, Dhiraagu (Maldives), Djibouti Telecom, Mobily (Saudi Arabia), Orange (France), Singtel (Singapore), Sri Lanka Telecom, Telecom Egypt, Telekom Malaysia, Telin (Indonesia).
Through SEA-ME-WE-6, Airtel will add a significant amount of 100 TBps capacity to its global network. Airtel has acquired one Fiber Pair on the main SEA-ME-WE-6 system and will co-build four Fiber Pairs between Singapore – Chennai – Mumbai as part of the cable system. Airtel will land the SEA-ME-WE6 cable system in India at new landing stations in Mumbai and Chennai. SEA-ME-WE-6 will be fully integrated with Nxtra by Airtel’s large Data Centers in Mumbai and Chennai to enable global hyperscalers and businesses to access seamless integrated solutions and strengthen India’s position as an emerging data center hub in the region.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
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