Bharti Airtel share rises over 2% as telco pips Reliance Jio in subscriber numbers

Bharti Airtel shares gained over 2% in Friday's trade after TRAI data showed that the telecom company was the biggest gainer in terms of users in September with 3.8 million subscriber additions.

As per Telecom Regulatory Authority of India data,  Airtel logged over 2.3 million more wireless subscribers than Reliance Jio, that added 1.5 million users. Meanwhile, Vodafone Idea continued losing subscribers, amounting to 4.6 million in the month.

Following the news, Bharti Airtel share opened at Rs 486.35 and later touched an intraday high of Rs 497.60, rising 3.68% against the earlier close of Rs 479.95 on BSE. The stock also touched an intraday low of Rs 483.35.

Bharti Airtel shares trade higher than 5, 20, 50 and 100 day moving averages but lower than 200 day moving averages. Bharti Airtel share has risen 22% since the beginning of the year.

Market cap of Bharti Airtel rose to Rs 2.69 lakh crore as of today's session. The stock closed 2.91% higher at Rs 493.90 on BSE.

Airtel increased its wireless subscribers from 322.8 million in August to 326.6 million in September, according to TRAI's Subscription Data report for the month of September.

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