Shares of Bharti Airtel hit a new record high of Rs 638.60, on the BSE in the intra-day trade today(13th August 2021), after the company announced the closure of its agreement with Reliance Jio Infocomm to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in three circles to Jio.
Bharti Airtel in a statement said the company has received Rs 1,004.8 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 469.3 crore relating to the spectrum, the company said.
In the past month, the stock of Bharti Airtel has outperformed the market by surging 20 percent, as compared to a 4.8 percent rise in the S&P BSE Sensex.
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