Bharti Airtel, Jio’s subscriber base widen
Shares of Bharti Airtel on Friday gained 3.44% after telecom regulator data showed that it has gained 2.3 million more subscribers than Reliance Jio in September.
The stock gained as much as 3.44% to hit a high of Rs 496.70 a share.
According to the latest Trai data, Airtel added 3.8 million subscribers, while Reliance Jio added 1.5 million users. Vodafone Idea lost 4.6 million subscribers in the month.
Vodafone Idea was the biggest loser as it lost 4.65 million subscribers during the reported month.
MTNL and Reliance Communications lost 5,784 and 1,324 customers while on the other hand, BSNL gained 78,252 users.
The wireless subscriber base of Jio now stands at 404.1 million while Airtel has 326.6 million and 295.5 million for Vodafone Idea.
Bharti Airtel saw strong (3.8 million) gross subscriber additions for the third straight month, recouping 10 million (after a cumulative loss of 12.4 million during the lockdown). It added 3.8 million active subscribers (v/s 2.3 million in Aug’20) to reach 316 million in Sep’20. Subsequently, its gross/active SMS increased by 30bp/40bp MoM to touch 28.4%/33%.
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.