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Telecom stocks on the limelight post the release of subscriber data for December 2020

According to the subscriber data for December 2020, Telecom stocks have created quite a stir as they were in focus as on February 19 reportedly.

With Vodafone Idea and state-run telecom firms BSNL and MTNL slipping in terms of their customer base, country’s telecom subscriber base dropped marginally to 1,173 million.

Among the gainers of new customers in December were Bharti Airtel and Reliance Jio.

A sharp decline was witnessed in the number of telephone subscribers in India from 1,175.27 million in November 2020 to 1,173.83 million in December 2020.

Moreover, the mobile subscriber base also fell to 1,153.77 million in December 2019 from 1,155.2 million in November 2019.

The downturn recorded was as a result of Vodafone Idea losing over 5.69 million mobile customers which was followed by BSNL losing over 2,52,501 subscribers.

MTNL on the other hand lost about 6,442 customers in the process.

On the brighter side, Bharti Airtel successfully gained more than 4 million new customers whereas Reliance Jio acquired 4,78,917 new customers.

However, the company accounted for about 97.1 percent active subscribers in the month of December.

This was followed by Vodafone Idea adding 90.26 percent along with Reliance Jio gaining 80.23 percent.

The Bharti Airtel share price was surged up to Rs 4.05, or by a margin of 0.69 percent, at Rs 593.05 respectively.

Further, it managed to reach an intraday high of Rs 594.45 and an intraday low of Rs 587.35 reportedly.

Meanwhile, Vodafone Idea was trading at Rs 11.63, up Rs 0.05, or 0.43 percent followed by Reliance Industries trading at Rs 2,088.80, up Rs 23.30.

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