Surge in the share price of Bharti Airtel

The share price of Bharti Airtel went up after the announcement of Airtel Internet of Things on April 8. It refers to a process of transmission and collection of data through a wireless network.

The company added the system introduced enables to join and administer a huge number of devices while maintaining security.

Also, the company launched IoT as it provides data security and connectivity solutions for the future. It also helps to prevent the outdating of devices. Lastly, for smooth incorporation with available IT systems which offers information that is used to make decisions for the future.

An investment and brokerage group, CLSA recommended acquiring shares with a target of Rs 730 per share.

As per reports, the company strongly focuses on converting operations into digital form. Along with this, they target to make progress in Environmental, Social, and Corporate Governance.
The target price set is Rs 569 whereas the stop loss is Rs 525.

The share price on 1100 hours was Rs 544 with an intraday high of Rs 548.55. The intraday low is Rs 542.

Additionally, the commencement of IoT brings assistance with the 5G network in the future. Currently, the system supports 2G 4G and NB-IoT networks.

The share went up to reach a high price of 52 weeks of Rs 623 on February 4, 2021. Also, it went down to the low price of 52 weeks of Rs 394.05 on 19 October 2020.

The present trading status of the shares shows 37.93 percent above the 52-week low. It is down 12.76 percent from its 52-week high.

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