Bharti Airtel gained 1.12% to Rs 427.05 at 14:08 IST on BSE after the company announced partnership with Google Inc. to bring low cost smart phones powered by Android Oreo (Go edition) to the Indian market and enable more Indians to get online.
The announcement was made during market hours today, 27 February 2018.Meanwhile, the S&P BSE Sensex was down 69.05 points, or 0.2% to 34,376.70.
On the BSE, 1.13 lakh shares were traded in the counter so far, compared with average daily volumes of 12.83 lakh shares in the past one quarter. The stock had hit a high of Rs 430.55 and a low of Rs 423 so far during the day. The stock had hit a 52-week high of Rs 565 on 3 November 2017. The stock had hit a 52-week low of Rs 325.50 on 22 March 2017.
The stock had underperformed the market over the past one month till 26 February 2018, falling 6.69% compared with the Sensex's 4.45% drop. The scrip had also underperformed the market in past one quarter, declining 14.91% as against Sensex's 2.28% rise. The scrip had also underperformed the market in past one year, gaining 15.37% as against Sensex's 19.22% rise.
The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
Airtel will bring range of Android Go based 4G smart phones to the Indian market in partnership with handset manufacturers under its 'Mera Pehla Smartphone' initiative. Android Oreo (Go edition) is a configuration of the Android operating system specifically optimized for devices with 1 GB of RAM or less.
Entry level 4G smart phones will be shipped with Android Oreo as standard operating system starting March 2018. Lava and Micromax will introduce the first set of 4G smartphones powered by Andoid Oreo (Go edition).
Bharti Airtel's consolidated net profit fell 16.5% to Rs 560.70 crore on 12.9% decline in net sales to Rs 20318.60 crore in Q3 December 2017 over Q3 December 2016.
Bharti Airtel is a leading global telecommunications company with operations in 16 countries across Asia and Africa.
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