Shares of Bharti Airtel surged over 4 percent on December 13, clocking in its biggest intraday gains in seven weeks. Alongside that, the stock also emerged as the top gainer on the Nifty 50 index.
Data on Bloomberg also showed that a block deal involving 13.2 lakh shares of Bharti Airtel took place on the exchanges. Moneycontrol could not ascertain the buyers and sellers of the deal that could be worth around Rs 212.60 crore.
At 12.47 pm, shares of Bharti Airtel were trading at Rs 1,666.30 on the NSE.
Optimism for Bharti Airtel was also running high after global brokerage firm Jefferies included the stock in the list of its top picks for 2025. Jefferies predicts the stock to test levels around Rs 1,920 by the end of calendar year 2025, implying a potential upside of 18 percent from Thursday's closing price.
Meanwhile, trading volumes in the counter also surged which further strengthened the upmove in the stock. As much as one crore shares of Bharti Airtel changed hands on the exchanges so far, already exceeding the one-month daily traded average of 76 lakh shares. The stock has also delivered robust gains this year, surging close to 62 percent as 2024 draws closer to its end.
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Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services, recently praised Bharti Airtel’s shift from minute-based to data-based pricing, calling it a transformative change comparable to the move from traditional cellular phones to digital ones.
Speaking at the sidelines of the Motilal Oswal Wealth Creation study, he described the new tariff plans as highly disruptive, with Bharti Airtel transitioning from selling minutes to offering flat-rate plans. "They invested Rs 5-6 lakh crore with the goal of capturing a 50 percent market share. I initially doubted anyone could survive, but they not only survived but thrived. I believe Bharti Airtel's best days are still ahead," Agrawal said.
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