BT Online Last Updated: August 23, 2017 | 14:40 IST
The Bharti Airtel stock rose on Wednesday after data showed the Sunil Bharti Mittal-led firm added 6 lakh new users in July 2017.
The stock rose up to 3 per cent, hitting a fresh 52-week high of 433.70 on the BSE. At 1427 hours, the Airtel stock was trading 1.84 percent higher at 429.40 level.
The stock is up 40.58 percent or 123.65 points since the beginning of this year. On an yearly basis, the stock rose 21 percent or 74.3 points on the BSE.
The Bharti Airtel stock is likely to gain more ground on launch of its 4G smartphone at Rs 2500 before Diwali this year. The new device could be launched to counter the Jio Phone at Rs 1500 bookings for which would open tomorrow.
Meanwhile, Idea Cellular and Vodafone, lost 43.7 lakh customers in July 2017, data published by industry body COAI showed. Total mobile customer base of five COAI members that include Aircel and Telenor declined by 37.74 lakh to 82.6 crore in July from 83 crore at the end of June. The subscriber base of Bharti Airtel reached 28.12 crore in July.
Idea lost the most 23 lakh customers in the month, followed by Vodafone that lost 13.89 lakh customers. Aircel lost 3.91 lakh and Telenor 2.75 lakh customers. UP (East) circle remained at the top with over 8.41 crore subscribers.
It was followed by Maharashtra circle with a total of 7.87 crore mobile subscribers. Bihar was a close third with total 7.62 crore subscribers. Maharashtra and UP East led in the number of new additions with 5.1 lakh and 4.7 lakh new subscribers respectively, the report said.
