Bharti Airtel shares surge 4%, hit 52-week high. Here’s what triggered this stock

One of India's leading telecommunications service providers, Bharti Airtel also deployed additional sites in North Twenty Four Parganas district to densify its network.

Moreover, the second largest telecom operator based on subscriber base also unveiled international roaming packs for its customers starting at Rs 133 per day. The customers will be able to enjoy in-flight connectivity, auto-activation of services upon landing overseas, unlimited data, voice benefits, and 24x7 contact center support, the company filing claimed.

The stock has had a strong run on the Street over the past 12 months delivering returns of over 75%. It has outperformed Nifty50 in the same period with the latter yielding nearly 26% returns. In 2024 so far, Bharti Airtel has rallied nearly 32%.

The stock finds itself in an overbought zone with the day’s RSI and MFI trading above 70, according to Trendlyne data. A number below 30 is considered to be oversold for both these momentum indicators while above 70 indicates that the stock is trading in an overbought zone.

The counter is also trading above its 50-day and 200-day simple moving averages (SMAs). The stock’s 1-year beta which is a measure of volatility is currently at 0.30 which suggests that the stock has traded with strong stability.

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