Shares of this telecom company under the ‘large-cap’ category jumped up to 3 percent in Monday’s trading session after the company’s Promoters bought additional 8.12 crore fully paid-up equity shares of the company on 1st December 2023.
With a market capitalization of Rs 5.80 lakh crores, the stocks of Bharti Airtel Limited opened their trading hour on Monday at Rs 1,026.05 and closed the bourses at Rs 1,032.40.
The scrip witnessed an intra-day high, also marked as the new 52-week high price, of Rs 1,043.05 exhibiting a gain of 3 percent as compared to the previous close of Rs 1,015 apiece.
As per the Block Deal data available with the National Stock Exchange (NSE), Bharti Telecom Limited, one of the Promoter Group members, bought around 8.12 crore fully paid-up equity shares of the company at an average trade price of Rs 1,023 per share.
On the selling side, Indian Continent Investment Limited, another Promoter Group member of Bharti Airtel Limited, offloaded the exact number of equity shares at the same average trade price.
As of the September 2023 quarter, Bharti Telecom Limited holds around 229.98 crore equity shares representing a 38.35 percent stake, and, Indian Continent Investment Limited holds around 35.55 crore equity shares equating to a 5.93 percent stake.
During the recent financial quarters, the company has seen a marginal dip in the operating revenues from Rs 37,440 crores during Q1FY23-24 to Rs 37,043.8 crores during Q2FY23-24. On a contrasting note, the company’s net profit figures, due to lesser interest expense, moved up from Rs 930.3 crores to Rs 1,507.2 crores.
After a couple of slippery phases, the company’s profitability ratios have successfully bounced back with the return on equity (RoE) increasing from 13.25 percent during FY21-22 to 17.08 percent during FY22-23, and, the return on capital employed (RoCE) rising from 14.99 percent to 16.21 percent.
Founded in 1995, Bharti Airtel Limited is engaged in the business of providing voice and data telecom services through wireless technology comprising 2G/3G/4G/5G services. It also provides services associated with wireless communication towers, voice & data communications services, as well as digital broadcasting services.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
