Bharti Airtel Defies Market Mood; Up Over 4.7% As It Discontinues Rs. 49 Entry Level Prepaid Plan

Shares of Bharti Airtel in otherwise weak market which has recouped some of the losses has gained over 4.76% to day's high price of Rs. 566.3 per share as against the previous day's price of Rs. 540.55.

Bharti Airtel Defies Market Mood; Up Over 4.7% As It Discontinues Rs. 49 Entry Level Prepaid Plan

The telecom major after the Supreme Court has refused to hear their appeal on recalculation of AGR dues has discontinued its Rs. 49 pre-paid offering. The Rs. 49 plan came with a validity of 28 days and also provided voice calling facility for a pre-specified amount.

So, now on the company's entry level pre-paid plans can be availed at Rs. 79. ''Airtel has discontinued its Rs. 49 entry level Prepaid recharge. The company's Prepaid packs will now start from the Rs. 79 Smart Recharge and offer up to four times more outgoing minutes of usage to customers along with double data. This change is in line with the company's focus on offering superior connectivity solutions. Airtel customers on entry level recharges can now stay connected for longer without worrying about their account balance,'' it said in a statement.

Airtel's new entry level Rs. 79 plan:

The Rs. 79 plan has a validity of 28 days and offers a talk time of Rs. 64 and provides data of 200 MB. The plan offers up to four times more outgoing minutes of usage to customers along with double data. The new plan comes into effect from revision of Thursday i.e., 29 July, 2021.

In May, the company announced to offer Rs. 49 plan pack free of cost of its low income customers to enable them to stay connected with their near and dear ones amid the pandemic led disruption.

Meanwhile, other telecom shares are also on the rise including the likes of Tata Communications. The ET report suggests that government is considering a proposal of several steps to turn around the fate of crisis ridden telecom sector in the country. The steps among consideration are prospectively respecifiying adjusted gross revenue (AGR) to do away with 'non-telecom' items as well as allowing telecom service providers to surrender unused spectrum against a small penalty.

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