Bharti Airtel rings loud on the plans of investing Rs 4000 crore in Punjab over the next 5 years

09 Dec 2013 Evaluate

Bharti Airtel is currently trading at Rs. 335.90, up by 3.75 points or 1.13% from its previous closing of Rs 332.15 on the BSE.

The scrip opened at Rs 339.00 and has touched a high and low of Rs 342.95 and Rs 334.90 respectively. So far 498642 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 373.50 on 01-Nov-2013 and a 52 week low of Rs 266.95 on 05-Apr-2013.

Last one week high and low of the scrip stood at Rs 339.50 and Rs 328.00 respectively. The current market cap of the company is Rs 134392.59 crore.

The promoters holding in the company stood at 65.23% while Institutions and Non-Institutions held 24.76% and 10.01% respectively.

Bharti Airtel , a leading global telecommunications services provider with operations in 20 countries across Asia and Africa, will invest over Rs 4000 crore in the Indian State of Punjab over the next 5 years to expand services and contribute to the Government of Punjab’s digital inclusion agenda. Airtel and the Government of Punjab has signed an agreement on the sidelines of the Progressive Punjab Investors Summit, under which Airtel will take its high speed 4G LTE services to all towns and villages across Punjab and put the State on the data superhighway.

Airtel launched Punjab’s first 4G LTE services in Chandigarh Tri-City in March 2013, making it one of the first States in India to experience the world-class technology. As part of the agreement, the Company will lay an additional 10,000 km of optic fiber across Punjab and expand its 4G footprint to cover most of the State’s population over the next few years. This will provide a major boost to growth of broadband services in rural areas and enable delivery of services such e-governance, e-education, e-health and much more. In particular, it will provider fillip to the growth of the digital economy in the State and support businesses as well as the Government.

Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.

Bharti Airtel Share Price

1584.05 -35.60 (-2.20%)
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