Bharti Airtel gains 4% on rolling out new postpaid plans
Shares of Bharti Airtel, the country’s premier communications solutions company, moved higher by 4 per cent to Rs 546.80 on the BSE in intra-day trade on Thursday after the announcement of new postpaid plans for corporate and retail customers.
“In the post-pandemic world, an abundance of high-speed data is increasingly becoming a key need for customers as Work From Home and Online Education is the new normal. In this context, Airtel has further simplified its Postpaid plans to offer industry-leading data benefits backed by a 5G ready network and superior digital-first customer care. The plans also come with a range of exclusive benefits such as bundled content and business productivity tools,” Airtel said in a press release.
For retail customers, the prices of Airtel postpaid plans start at Rs 399 per month and for corporate customers at Rs 299 per month.
A key feedback Airtel received from customers was the need for more data as the entire family’s use of digital platforms has increased manifold, the company said, adding that as a response, Airtel has refreshed its Family Postpaid plans to help its customers navigate the new normal. With its simplified Postpaid proposition, customers can also easily bundle add on connections with enhanced data benefits to their existing plans, Airtel further said.
The company has discontinued its Rs 749 Family Postpaid Plan for new customers and will now offer Rs 999 as the only Family Postpaid Plan with enhanced data benefits. Now, its customers can add a connection to any Airtel Postpaid plan at just Rs 299/SIM and get 30 GB additional data (10 GB earlier), unlimited calling and Thanks benefits. CLICK HERE FOR FULL RELEASE
Furthermore, on Wednesday had announced collaboration with Intel Corporation for 5G network development by leveraging virtual and open radio access network (O-RAN) technologies and making indigenous solutions. Airtel and other telecommunications (telecom) operators are conducting 5G trials in select cities across India.
The stock of was underperforming market since the past one year. In the last three months, it has gained 2.6 per cent as compared to a 10 per cent rally in the S&P BSE Sensex. In the past one year, it is down 4 per cent compared with a 39 per cent gain in the benchmark index.
Shares of were trading 4 per cent higher at Rs 9.37 on the BSE at 02:40 pm after hitting a high of Rs 9.55 in intra-day trade today amid reports that the government has approved a proposal from the company for an investment of up to Rs 15,000 crore via the foreign direct investment (FDI) route.
Hot Stocks | Why Bharti Airtel, GIPCL are buy calls in short term
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Benchmark indices added 1.5 percent last week and broke out of a range to touch a new high, which bodes well for the bulls. Now, 16,000 is merely a formality and if there is no aberration on the global front, we would see the market reaching the millstone in the first half of this week only.
After this, 16,200 is the next level to watch out for. We reiterate that if this assumption has to turn into reality, the banking space needs to contribute.
The moment the banking index crosses the 36,000 mark, we would see Nifty hastening beyond the magical figure of 16,000. The levels of 15,800 and 15,630 are the key supports for Nifty.
One needs to keep in mind that any sustainable move below 15,630 would apply brakes on the ongoing optimism and we may then see some corrective moves in the market in the short term.
Here are two buy calls for the next 2-3 weeks:
Bharti Airtel | LTP: Rs 540.95 | Target price: Rs 562 | Stop loss: Rs 531 | Upside: 4%
Barring January, this stock has done nothing this year and failed to participate in the last few months’ rally.
It first corrected from the record highs in February and then has been hovering around the 200-day simple moving average level of Rs 520.
In the last few months, it seems to have cemented its position around this sacrosanct support and looking at last Friday’s price surge, we can say this stock is about to come out of its slumber.
Price-wise, we can see a triangle pattern breakout with some authority. The volumes were also pretty good, suggesting some renewed buying interest in the stock.
Gujarat Industries Power Company (GIPCL) | LTP: Rs 91.20 | Target price: Rs 99 | Stop loss: Rs 86.50 | Upside: 9%
Of late, many stocks from the power sector have been performing phenomenally well, but this stock has been lagging.
Last week, it started to move gradually from its key support zone. It has now entered a multiple resistance zone but the kind of price and volume action we witnessed on the final day of the last week, the breakout looks imminent.
In addition, the momentum oscillator reading is supporting this optimistic outlook.
(The author is Chief Technical & Derivatives Analyst at Angel Broking)
The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
HCL Tech, Clean Science, GR Infra, Just Dial, Airtel, Vodafone Idea, Asian Paints, RInfra stocks in focus
Nifty futures were trading 23.50 points or 0.15 per cent down at 15,718 on Singaporean Exchange.
BSE Sensex and Nifty 50 were likely to open in the negative territory on Tuesday, as suggested by trends in SGX Nifty in early trade. Nifty futures were trading 23.50 points or 0.15 per cent down at 15,718 on Singaporean Exchange. In the previous session, Sensex plunged 1.10 per cent to 52,553 points while the NSE’s Nifty ended 1.07 per cent lower at 15,752. Technical analysts said that although the Nifty survived at 15700, the closing level was not encouraging. In addition, the market failed to close above the support levels of 20 days SMA and EMA that was around 15785 and 15765 levels respectively. “On Tuesday, the market must hold above the levels of 15600. On the dismissal of the same, the Nifty would fall to 15500 and 15450 levels. We need Nifty/Sensex to cross the levels of 15840 / 52850 levels for the bullishness in the market. Our advice is to buy in select stocks with a medium-term view,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said.
Stocks to watch
Reliance Infrastructure: RInfra on Monday said it has raised Rs 550.56 crore through issuance of securities on preferential basis. Post allotment, the holding of the promoter group in Reliance Infra would increase to 22.06 per cent upon full conversion of warrants, the company said in a statement.
Bharti Airtel, Vodafone Idea: The Supreme Court on Monday said it will pass orders on the plea of telecom operators — Bharti Airtel, Vodafone Idea, and Tata Teleservices — seeking rectification of arithmetical errors in the calculation of their adjusted gross revenue (AGR) dues, but reminded them that its earlier order on the matter has ruled out any recomputation of the dues.
Bajaj Finance, Asian Paints: ICICI Prudential Life Insurance Company, Bajaj Finance, Asian Paints, Syngene International, ICICI Securities, Crisil, DCM Shriram, Shyam Metalics and Energy, ITDC, Newgen Software and Jubilant Ingrevia are among the company that will release April-June quarter earnings on July 20.
HCL Tech: HCL Technologies on Monday said its founder Shiv Nadar will take on the role of Chairman Emeritus and Strategic Advisor to the company’s board. Nadar has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing. HCL Tech posted a 9.9 per cent rise in consolidated net profit to Rs 3,214 crore for the June 2021 quarter
Clean Science and Technology: The newly-listed Nomura India Investment Fund Mother Fund – The MTBJ AC Nomura India Investment Fund bought 10 lakh equity shares of the company at Rs 1,715.33 per share on the NSE.
GR Infraprojects: GR Infraprojects shares got listed at 105% premium over IPO price on Monday. The Nomura Trust and Banking Co as The Trustee of Nomura India stock Mother Fund bought 5 lakh equity shares of the company at Rs 1,714.6 per share in bulk deals on the NSE.
Just Dial: Following a controlling stake acquisition by RIL in Just Dial, Tree Line Asia Master Fund (Singapore) Ptd Ltd offloaded 8.85 lakh equity shares at Rs 1,041.15 per share on the NSE, and 9.01 lakh equity shares at Rs 1,025.06 per share on the BSE in the bulk deals. Plutus Wealth Management LLP lapped up 9 lakh equity shares at Rs 1,022.13 per share on the BSE.