India’s $100 Billion market cap club | Bharti Airtel crosses $100 billion market cap | Large cap
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India’s $100 Billion market cap club | Bharti Airtel crosses $100 billion market cap | Large cap |
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Video From Upstox |
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This Video Uploaded At 10-06-2024 14:28:43 |
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Telecommunications giant Bharti Airtel has officially entered the exclusive $100 billion market capitalisation club, joining the ranks of Reliance Industries, HDFC Bank, and Tata Consultancy Services (TCS). This achievement highlights Bharti Airtel's robust market performance and strategic growth in the competitive telecom sector.
**Key Highlights:**
1. **Market Capitalisation Milestone:**
- As of Monday, Bharti Airtel's market capitalisation hit ₹8.13 lakh crore on the National Stock Exchange, propelling it into the $100 billion m-cap club.
2. **Comparison with Other Giants:**
- Bharti Airtel: ₹8.13 lakh crore
- HDFC Bank: ₹11.92 lakh crore
- TCS: ₹13.98 lakh crore
- Reliance Industries: ₹20.04 lakh crore
3. **Stock Performance:**
- At 11:20 am, Bharti Airtel's stock was trading 0.42% higher at ₹1,431.2.
- Year-to-date, the stock has surged 39.5%, and in the past year, it has increased by 71.4%.
4. **Factors Behind Growth:**
- Analysts attribute the company’s impressive growth to its competitive mobile business against Reliance Jio and Vodafone Idea.
- Anticipated traffic hikes are expected to boost revenue further.
5. **Financial Snapshot:**
- Q4 FY24 consolidated net profit: ₹2,068.2 crore (31% decline from ₹3,005.6 crore in Q4 FY23).
- Q4 FY24 consolidated revenue from operations: ₹37,599.1 crore (4.4% increase from ₹36,009 crore in Q4 FY23).
6. **Management Insights:**
- Gopal Vittal, Managing Director, highlighted consistent performance across all business segments.
- India revenue grew by 1.7%, with the EBITDA margin expanding to 54.1%.
- Performance impacted by the devaluation of the Nigerian Naira.
- Added 7.8 million smartphone customers, achieving an industry-leading ARPU of ₹209.
7. **Dividend Announcement:**
- Bharti Airtel declared a dividend of ₹8 per share for FY24.
**Hashtags:** #BhartiAirtel, #MarketCap, #StockMarket, #Telecom, #StockMarketNews, #Investment, #BhartiAirtelStock, #MarketUpdate, #BusinessNews, #Upstoxapp,
#HDFCbanksharenews, #Relianceindustriessharenews, #TCSSharenews, |
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News & Politics |
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#BhartiAirtel | #MarketCap | #StockMarket | #Telecom | #StockMarketNews | #Investment | #BhartiAirtelStock | #MarketUpdate | #BusinessNews | #Upstoxapp | #HDFCbanksharenews | #Relianceindustriessharenews | #TCSSharenews |
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