Bharti Airtel rose 1.36% to Rs 413.35 at 12:29 IST on BSE on reports a foreign brokerage has maintained high conviction buy rating on the stock.
Meanwhile, the S&P BSE Sensex was up 281.67 points or 1.06% at 26,762.92.
On BSE, so far 84,000 shares were traded in the counter as against average daily volume of 3.91 lakh shares in the past one quarter.
The stock hit a high of Rs 418.10 and a low of Rs 408.20 so far during the day. The stock had hit a 52-week high of Rs 434.70 on 29 May 2015. The stock had hit a 52-week low of Rs 326.75 on 14 July 2014.
The stock had outperformed the market over the past one month till 9 June 2015, advancing 2.48% compared with Sensex's 2.3% fall. The scrip had also outperformed the market in past one quarter, surging 18.7% as against Sensex's 8.19% fall.
The large-cap telecom company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
According to reports, a foreign brokerage maintained high conviction buy rating on Bharti Airtel stating that Bharti's higher market share, profitability and superior spectrum/utilisation add upsides to forecasts of 17% India EBITDA and 18% consolidated earnings CAGR by FY 2018.
The brokerage reportedly said that Bharti's superior margins in the mobile business are driven by operating leverage given its wider market-share and lower network operating costs driven by a higher share of 900MHz spectrum enabling Bharti have 10% higher subscribers/cell site versus Vodafone.
Bharti Airtel's consolidated net profit rose 30.5% to Rs 1255.30 crore on 3.6% growth in net sales to Rs 23015.50 crore in Q4 March 2015 over Q4 March 2014.
Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa.
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