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Shares of Bharti Airtel rose as much as 8 per cent, marking their biggest intra-day percentage gain in over two months
At about 3.05 pm, the stock was up 7.93 per cent at Rs 372.90 on the BSE. On the NSE, the stock was trading higher by 8.04 per cent at Rs 373.
The company's subscriber additions, as well as growth in Africa business helped, although it reported its smallest quarterly profit in over four years on Tuesday amid strong competition.
“Subscriber churn is down, subscriber additions is healthy, Africa has surprised positively,” said Naval Seth, Equities Research Analyst, Emkay Global Financial Services.
Net additions in mobile services in India stood at 7.8 million during the quarter.
Africa revenues rose 2.6 per cent in constant currency, Airtel said.
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