Airtel hits 3-month high; up 4% in 2 days on Rs 8k-cr 5G spectrum payment

Airtel believes upfront payment will free up future cash flows and allow the company to dedicate resources to single-mindedly concentrate on the 5G roll out\

Shares of Bharti Airtel hit an over three-month high of Rs 735.30, up 2 per cent on the BSE in Thursday’s intra-day trade, after the company paid Rs 8,312.4 crore to the Department of Telecommunications (DoT), settling 5G spectrum dues ahead of schedule to free up cash for future investments.

The stock of the telecom service provider has gained 4.5 per cent in the past two trading days. It was trading at its highest level since May 4, 2022. The stock had hit a record high of Rs 782 on November 24, 2021. In comparison, the S&P BSE Sensex