Shares of Bharti Airtel gained 3% to hit a record high on Tuesday, November 4, extending gains for the second consecutive session. The stock touched an all-time high of ₹2,135.60 and emerged as the top gainer on the Nifty 50 index in today's trade.

The telecom major reported a better-than-expected performance, driven by stronger-than-anticipated results in both its India and Africa operations. Consolidated revenue rose 5.4% against estimates of 3.1%, while India revenue rose 2.6%, compared to expectations of 2.2%.

Consolidated EBITDA margins expanded 40 basis points sequentially to 56.7%. The company's average revenue per user (ARPU) came in at ₹256, with net subscriber additions of 1.4 million quarter-on-quarter.

Brokerages remain positive on Bharti Airtel after its September-quarter r

See Full Page