Airtel has paid Rs 8815 crore as a liability to the Government of India for the spectrum acquired from the auction.
Bharti Airtel Stock Price: India’s leading digital communications solutions provider company Bharti Airtel (Bharti Airtel) is seeing good growth today. Today, where the markets are showing in the red mark, Airtel has become the top gainer of Sensex 30. The stock is up more than 1 percent and it has reached a price of Rs 714. On Thursday, it had closed at a price of Rs 706. In fact, Airtel has paid Rs 8815 crore as a liability to the Government of India for the spectrum acquired from the auction. The company has given this information to the stock exchange. Due to this news, the sentiments regarding the stock have improved. Experts say that anyway there has been a breakout in the stock recently. By the next quarter, it can reach a new high of 1 year.
8815 crores paid to the Government of India
Airtel has said in the information given to the stock exchange that it has paid Rs 8815 crore to the Department of Telecom (Government of India). This payment is in respect of spectrum liabilities received in the auction in 2015. The prepayment is for due installment in FY 2027 and FY 2028. In the last 4 months, Airtel has paid Rs 24,334 crore under its deferred spectrum liabilities.
Airtel said in the information given to the stock exchange that there was an interest rate of 10 percent on these liabilities and they have been paid. The payment has been made on account of strong free cash generation through business, equity income and lower cost debt of the same period, the company said. The company continues to focus on financial flexibility through its capital structure.
Share may hit record high
Anuj Gupta, VP-Research, IIFL, says that Airtel is continuously paying its spectrum dues. The company is making its payment on time. The company’s business also remains strong and the situation is getting better in Kaia’s case. In such a situation, the business outlook of the company is also getting stronger. As far as the stock is concerned, it has been flat this year. But this time the stock has seen a breakout from the level of Rs 700. The stock is looking strong on the chart and it can show a price of Rs 745 to Rs 750 in the next few days. At the same time, after the level break of Rs 750, it can go to the price of Rs 800 till the next quarter, which will be a new record high for this.
(Disclaimer: Stock investment advice is given by experts. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)
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