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Bharti Airtel hits new 52 week high after Moody’s upgrades credit rating outlook to positive

Bharti Airtel hits new 52 week high after Moody’s upgrades credit rating outlook to positive

Bharti Airtel is currently trading at Rs. 768.00, up by 8.50 points or 1.12% from its previous closing of Rs. 759.50 on the BSE.Bharti Airtel

The scrip opened at Rs. 764.80 and has touched a high and low of Rs. 781.90 and Rs. 761.55 respectively. So far 502484 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 781.90 on 24-Nov-2021 and a 52 week low of Rs. 450.19 on 25-Nov-2020.

Last one week high and low of the scrip stood at Rs. 781.90 and Rs. 708.50 respectively. The current market cap of the company is Rs. 455298.87 crore.

The promoters holding in the company stood at 55.86%, while Institutions and Non-Institutions held 39.02% and 5.13% respectively.

Credit rating agency — Moody’s has upgraded Bharti Airtel’s credit rating outlook to positive from stable, reflecting improvement in its financial performance and growth potential. Moody’s has affirmed Bharti’s Ba1 corporate family rating (CFR) and senior unsecured rating, and the Ba1 rating on the backed senior unsecured notes issued by Bharti Airtel International (Netherlands) BV.

The outlook change to positive reflects Bharti’s improving operating performance and credit metrics which, if sustained, could support an upgrade to investment grade within the next 12-18 months. The upgrade comes a day after the company took the lead by hiking mobile call and services rates in the range of 20-25 per cent.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.