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Airtel Shares Surge After Advance Payments to DoT for 5G Spectrum Purchase

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Airtel Shares Surge After Advance Payments to DoT for 5G Spectrum Purchase

Introduction

In the last two trading sessions, the price of Airtel’s stock increased by 4.5 percent. After making advance payments for the purchase of the 5G spectrum on Thursday, telecom service provider Bharti Airtel’s stock price increased.

On Thursday, the BSE share price of Bharti Airtel increased 1.59 percent to close at Rs. 733.25.

Highlights 

• Following advance payments, Airtel’s shares increased significantly.
• Airtel paid the first four years of its 2022 spectrum obligations.
• Airtel paid up its deferred spectrum liabilities totaling Rs. 24,333.7 crores.

Also Read: Airtel, Tech Mahindra Team Up For Digital Solutions Across 5G, Private Networks, Cloud

Airtel Shares Surge After Advance Payments to DoT for 5G Spectrum Purchase

Airtel
Communications Today

After making advance payments for the purchase of the 5G spectrum on Thursday, telecom service provider Bharti’s stock price increased. On Thursday, the BSE share price of Bharti Airtel increased 1.59 percent to close at Rs. 733.25.

The scrip achieved a high of Rs. 735.70 in the intraday. The share price of Bharti Airtel has increased 4.5 percent during the last two trading days. Following the company’s payment in advance for the 5G spectrum, its shares increased significantly.

On Wednesday, Bharti announced that it had made a payment of Rs. 8,312.4 crores to the Department of Telecom (Government of India) to settle outstanding obligations for spectrum purchased in the recently finished 5G auctions.

Airtel has paid the first four years’ worth of 2022 spectrum fees. This upfront payment, along with a four-year freeze on spectrum dues and AGRrelated payments, according to the firm, will free up future cash flows and enable the allocation of resources to solely focus on the 5G deployment.

Airtel has paid off Rs. 24,333.7 crores of its deferred spectrum liabilities during the last year well in advance of their planned maturities. The government announced that the telecom operator had been given the spectrum as soon as the payments were made.

Bharti Enterprises chairman Sunil Bharti Mittal praised the government for rapidly allocating the 5G spectrum. “No trouble, followup, pacing the halls, or overblown claims were present.

This is the pinnacle of corporate convenience. In the more than 30 years I’ve worked directly with the DoT (Department of Telecommunications), this is a first “Mittal also stated in a statement.

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Surekha V A
Surekha V Ahttps://premierenext.com/
My name is Surekha Venkatesh , am from Shimoga, Karnataka. I am studying a Bachelor of commerce in Jnn college, Shimoga at Kuvempu University. I am interested in cycling, cooking and reading books. And I am capable of handling a variety of responsibilities in high-pressure situations.
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