Bharti Airtel shares touched a new high at Rs. 652 as the stock rallied 5% on Bombay Stock Exchange in intra-day trade this Tuesday, 31 August. This followed after the company managed to garner the interest of high-profile investors and companies, especially because of its diverse business. Previously on 16 August 2021, Airtel had reached a milestone share price of Rs. 644.
Let us find out more about this exciting development in detail below.
A Surge in Market Price and Primary Catalysts: In Brief
In the last couple of days, Bharti Airtel’s market share price has increased 9%. This surge is believed to be an immediate impact of the company’s announcement to raise Rs. 21,000 crores via a rights issue. As per reports, Bharti Airtel intends to raise funds to account for dues related to adjusted gross revenue or AGR.
Furthermore, this company seems to be in talks with Google to secure investments from the global giant. Collectively, this has offered a boost to this company’s stock.
Clarity on Airtel-Google Investment Deal
The market is buzzing with speculations that Airtel could secure substantial investment from the internet giant Google. However, when Airtel was brought under the spotlight, the company’s spokesperson stated that its policies do not encourage commenting on media reports, let alone speculations. Moreover, as a responsible company, it is compliant with SEBI norms.
Airtel further added that being a leading name in the digital and telecom space, it continues to garner ample attention from high-end investors from time to time. Additionally, it stated that Airtel evaluates different alternatives to engage potential investors to partake in specific methods.
Regardless, sources close to Airtel said that this company is now at the advanced level of negotiations. Supposedly, it has been in talks with Google for nearly a year now. Also, the same sources hint at the prospective deal to a big one.
These recent developments pertaining to fundraising and speculation related to Google’s investment venture in Airtel have sparked interest in the market. Indeed, securing investment from Google could offer a tremendous boost to this telecom company and further strengthen its footing in the market.
Though investors are willing to park money in Airtel, it would be smart to avoid any impulsive decision. Instead, interested investors should factor in major parameters such as prospects, limitations, and strengths before investing in Airtel stocks.
Frequently Asked Questions
- What is Bharti Airtel’s market capitalisation?
At the time of writing, Bharti Airtel’s market capitalisation stood at Rs. 3,67,938.37 crores.
- What is Bharti Airtel’s current EPS?
Bharti Airtel’s EPS at the time of writing is -16.70.
- How many shares of Airtel are trading in the market?
There are 549.20 crores shares of Airtel in the market.
- What is Airtel’s current book value?
Bharti Airtel’s current book value is Rs. 139.91.