The shares of the telecom company are in green after entering into a partnership with Nokia to deploy a next-generation optical transport network. Furthermore, the company has begun the process of taking its subsidiary Bharti Hexacom public.
With a market capitalization of Rs. 5.83 lakh crores, the shares of Bharati Airtel opened Wednesday’s trading session positively at Rs. 974.30 compared to its previous close at Rs. 970.85 and closed its day at Rs. 969.75 apiece.
According to reports, Nokia and Bharti Airtel entered into a partnership to deploy a next-generation optical transport network that will provide additional capacity, higher reliability, and lower cost, enabling superior services for Airtel’s customers. As part of the agreement, Airtel will utilize Nokia’s products in its National Long-Distance Network connecting major cities across India.
In addition to this, the company has begun the process of taking its subsidiary Bharti Hexacom public and has appointed investment banks like Axis Capital, SBI Capital, and ICICI Securities to start the IPO process. According to the sources, Bharti Hexacom’s valuation is likely to be at Rs. 20,000 crore and the listing process is likely to be finished by early 2024.
Looking at financial statements, the revenue decreased marginally by 1 percent from Rs. 37,440 crores in the June quarter to Rs. 37,043 crores in the September quarter. Moreover, the net profit declined by 16 percent from Rs. 1,612 crores to Rs. 1,340 crores during the same timeframe.
According to the latest shareholding pattern, the Promoters have a 54.75 percent stake, FIIs have a considerable stake of 21.87 percent, DIIs have 19.80 percent holdings and the remaining 3.58 percent are with the Retail Investors.
Headquartered in Gurugram, Bharti Airtel Ltd was incorporated in 1995. The company provides telecommunication services under wireless and fixed line technology, national and international long-distance connectivity, broadband, digital TV services, broadband, and complete integrated telecommunication solutions to customers.
Written By Vaibhav Patil
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