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Bharti Airtel saw its stock rise on January 30

Bharti Airtel Ltd saw its shares trading 0.95% higher at ₹1173.20 on Tuesday morning, January 30. The telco experienced a bullish price breakout, surpassing its second resistance level (R2) at a price of Rs 1175.2, which is slightly higher than the R2 level of Rs 1175.05 at 9:21 am. (However, the closing price of Bharti Airtel stood at Rs 1159.85, with a slight decrease of 0.2%.)

This is as the telco added 3.98 million 4G/5G users in November, which is the highest in 27 months, according to data from the Telecom Regulatory Authority of India. Out of the total 379.8 million subscribers, the company’s wireless broadband, which largely includes 4G subscribers at the end of November were at 255.07 million, compared to 251.1 million in October.

The trend assumes significance in the sense that in October, Airtel added only 520,000 4G/5G users, which were its lowest in 18 months. The increase in 4G additions in November can be attributed to the overall subscriber base additions in the industry, as well as migration from the low end or 2G subscribers to 4G/5G, which also means a feature phone to smartphone shift.

The company, however, continued to lose active subscribers for the second straight month in November. During the month, the company lost 432,941 subscribers, taking its active subscriber count to 374.52 million. In October, the telecom operator reported a 1.2 million dip in active subscribers, which was its highest in 18 months. At that time, analysts had said that it was a one-time phenomenon and did not lead to concerns over the company’s fundamentals. Airtel’s market share rose to 32.91% in November from 32.85% in October.

CT Bureau

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