Bharti Airtel The shares of the company reached a record high today i.e. on Wednesday, 15 September 2021. The company’s shares climbed 3 per cent to Rs 790. With this, shares of MTNL climbed 2 per cent, Reliance Communication 1.6 per cent and Vodafone Idea 0.58 per cent in the BSE.
In fact, one of the reasons for this acceleration is also believed to be the meeting of the Union Cabinet held today, in which the decision to give some more time to the companies for payment of spectrum dues is being discussed. It is understood that due to this reason, this boom is visible in the shares of telecom companies. Vodafone has to pay AGR of Rs 58,000 crore. The Telecom Ministry has proposed to give a moratorium of four years to the company for payment.
Buying possible in Airtel at the level of Rs 670-690
Analysts say that the situation of dominance of only two companies in the country’s telecom sector is now visible. Vishal Wagh, Research Head, Bonanza Portfolio, says that the stock of Bharti Airtel can see continuous buying near Rs 670-690. Bharti Airtel’s stock has seen a rally of 13.19 per cent in the last one month, while the BSE Sensex has gained 5.26 per cent during this period.
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Telecom shares expected to rise
In fact, the shares of the telecom sector have been on the radar of investors and traders for the last one week. He hopes that the meetings of the government can announce relief to the debt-ridden telecom companies. Likita Chupda, Senior Research Analyst, CapitalVia Global Research, says that apart from giving relief in the fees of companies, the cabinet has to take two more decisions. First, the cabinet can approve the reduction of telecom license fee from 8 percent to 6 percent. The second decision may be to modify the definition of AGR. This demand is being made by the industry for a long time. Chhupa says that this is the reason why there has been an increase in the shares of companies in the telecom sector recently. Even the troubled Vodafone Idea shares have gained 0.58 per cent and have reached Rs 8.74.
(Article : Surabhi Jain)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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