Earnings effect: Bharti Airtel shares reclaim Rs 1,700 mark after three months 

Shares of Bharti Airtel gained over 5% intra day on Friday after the telco reported strong earnings for Q3. Bharti Airtel stock hit an intraday high of Rs 1708, rising 5.42% in the current session. This is the first time Bharti Airtel shares have crossed the Rs 1,700 mark after October 23 last year. The stock hit an intra day high of Rs 1,701.25 in that session.  On September 26, the stock touched its all-time high of Rs 1778.95. Bharti Airtel stock opened higher at Rs 1649.95 today.

The large cap stock has gained 6.51 per cent this year and risen 50% in a year. 

Bharti Airtel’s market cap climbed to Rs 9.68 lakh crore in the current trading session. Total 2.77 lakh shares changed hands amounting to a turnover of Rs 46.77 crore on BSE.

Bharti Airtel stock has a one-year beta of 0.9, indicating very low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Bharti Airtel stands at 48.9, signaling it's trading neither in the overbought nor in the oversold zone. The telecom stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. Bharti Airtel's consolidated net profit zoomed 505% to Rs 14,781 crore in Q3 against Rs 2442.2 crore in the December 2023 quarter.

The company logged exceptional gains of Rs 7,545 crore, leading to a huge surge in Q3 profit. Revenue rose 19% to Rs 45,129 crore in Q3 against Rs 37,899.5 crore revenue in the corresponding quarter of the previous fiscal. The company attributed a surge in revenue to strong underlying momentum in India, sustained constant currency growth in Africa and Indus Tower Ltd consolidation effective November 19, 2024.