Google to invest in Bharti Airtel? Read what Telecom major has to say
Business | August 31, 2021 16:09 ISTBharti Airtel has described that the reports on likely investment by Google into the company as speculations.
Bharti Airtel has described that the reports on likely investment by Google into the company as speculations.
In the previous session, the BSE index ended 765.04 points or 1.36 per cent higher to 56,889.76, and Nifty surged 225.85 points or 1.35 per cent to its record closing of 16,931.05.
In a BSE filing, Airtel said that the "board approved the issuance of equity shares of face value of Rs 5 each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of up to Rs 21,000 crores".
Bharti Airtel has launched ‘Airtel IoT’ – an integrated platform that enables enterprises to harness the power of Internet of Things (IoT).
Bharti Airtel's India business surged 25.1 per cent to Rs 19,007 crore during the December quarter as against Rs 15,194 crore in the year-ago period.
Airtel did this over its existing liberalised spectrum in the 1,800 MHz band through the NSA (non-standalone) network technology. Using dynamic spectrum sharing, Airtel seamlessly operated 5G and 4G concurrently within the same spectrum block.
Telecom major Bharti Airtel on Tuesday said that it has received required regulatory approvals for 100 per cent foreign direct investment in its downstream companies.
Avaada MHBuldhana Private Limited is a newly-formed company and developing a captive generating solar power plant in Maharashtra which will become operational by March 2021.
Shares of Bharti Airtel jumped nearly 13 per cent on Wednesday after the company reported its highest-ever quarterly consolidated revenue on the back of a rise in data usage and higher realisations.
Equity benchmark Sensex jumped over 200 points in early trade on Friday, tracking gains in index majors HDFC twins, ICICI Bank and TCS amid positive cues from global markets.
Extending its losses for the fifth straight session, equity benchmark Sensex ended 66 points lower on Wednesday, tracking weakness in Bharti Airtel, TCS and Bajaj Finance despite largely positive cues from global markets.
Investors brushed aside nearly 24 per cent fall in the economy during Q1 FY21 that was largely expected with equity benchmark indices closing higher on Tuesday after a volatile trading session.
Shares of Vodafone Idea tumbled nearly 13 per cent, while those of Bharti Airtel rose more than 6 per cent after the Supreme Court granted 10 years to telecom firms for paying the AGR-related dues to the Department of Telecommunications with certain conditions.
The BSE benchmark Sensex spurted nearly 273 points on Tuesday, led by gains in Bharti Airtel, HUL and Reliance Industries amid a positive trend in global markets.
Telecom operator Bharti Airtel on Wednesday reported substantial widening of losses to Rs 15,933 crore for June quarter, mainly on account of provisioning for statutory dues. The loss for the corresponding period last year stood at Rs 2,866 crore.
Bharti Airtel has said it is in "continuous pursuit" to upgrade existing 4G base stations with 5G capabilities to be future-ready, and is "conceptualizing 5G trials" in association with OEMs and application developers.
The government may impose restrictions on private telecom operators to buy equipment from Chinese firms for projects in which they acquire public assets on a lease basis.
Wireless revenues of telecom companies Bharti Airtel and Vodafone Idea Ltd (VIL) are expected to fall during the first quarter of current fiscal on account of the nationwide lockdown, according to a report by Emkay Global.
Seven of the 10 most valued domestic companies together lost Rs 78,127.74 crore in market valuation last week, with HDFC Bank taking the biggest knock.
Bharti Airtel is better placed to offer guarantees for securing staggered payments, if permitted, in the AGR matter where the Supreme Court has asked private telcos for road map on payment, timelines, and the security they can furnish, said analysts while airing mixed views on sustainability of Vodafone Idea.
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