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Bharti Airtel top gainer on Nifty50; stock up 6% after company hikes prepaid tariffs

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At 9:34 am, shares of Bharti Airtel were up 5.4 percent at Rs 752.75 on the BSE. The stock is 0.25 percent away from its 52-week high of Rs 752.65.

Bharti Airtel top gainer on Nifty50; stock up 6% after company hikes prepaid tariffs
Bharti Airtel shares jumped as much as 6 percent on Monday after the telecom operator announced its decision to hike prepaid tariffs by 20-25 percent with effect from November 26.
With this hike, the existing tariff of Rs 75 with validity period of 28 days will be hiked to Rs 99 while the existing tariff of Rs 149 with validity period of 28 days will be increased to Rs 179.
The other plans that have been increased include the existing tariff plan of Rs 219 with the validity of 28 days, which is hiked to Rs 265, the Rs 249 plan with the validity of 28 days, which has been hiked to Rs 299.
The existing tariff of Rs 298 with the validity of 28 days is hiked to Rs 359.
Towards the higher end, the existing tariff plan of Rs 2,498 with a validity period of 365 days has been hiked to Rs 2,999.
With this tariff hike, Airtel's plans now reflect 30-50 percent premium to Jio.
Bharti Airtel said in a press release that it has always maintained that its mobile Average Revenue Per User (ARPU) needed to be at Rs 200 and ultimately at Rs 300, so as to provide a reasonable return on capital that allows for a financially healthy business model.
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"We also believe that this level of ARPU will enable the substantial investments required in networks and spectrum. Even more important, this will give Airtel the elbow room to roll out 5G in India," Bharti Airtel added in the exchange filing.
At 9:34 am, shares of Bharti Airtel were up 5.4 percent at Rs 752.75 on the BSE. The stock is 0.25 percent away from its 52-week high of Rs 752.65.
Today's sharp upswing in the stock comes after four days of consecutive losses. The scrip opened with a gain of 4 percent today. It is the best performer on Nifty50.
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