Shares of Bharti Airtel on Monday gained nearly 4 per cent after the company announced a 20-25 per cent tariff hike for various prepaid offerings.
The stock gained 3.90 per cent to close at Rs 742.05 on BSE. During the day, it jumped 5.85 per cent to its 52-week high of Rs 756.
On NSE, it gained 3.88 per cent to close at Rs 742.10.
In volume terms, 7.94 lakh shares were traded on BSE and over 3.68 crore on NSE. Telecom operator Bharti Airtel on Monday announced a 20-25 per cent tariff hike for various prepaid offerings, including tariffed voice plans, unlimited voice bundles, and data top-ups.
The entry-level tariffed voice plan has been hiked by about 25 per cent, while for unlimited voice bundles the increase in most cases is about 20 per cent.
The company said it has always maintained that the mobile Average Revenue Per User (ARPU) needs to be at Rs 200 and ultimately at Rs 300 to provide a reasonable return on capital that allows for a financially healthy business model.
“We also believe that this level of ARPU will enable the substantial investments required in networks and spectrum. Even more important, this will give Airtel the elbow room to roll out 5G in India,” Airtel said in a statement.
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