Bharati Airtel Ltd. is considered as the best performer of India’s stocks benchmark on this year with 26% record. The stock record has surged on Thursday in Mumbai after Reuters reported about Amazon.com, who about to buy a stake of $2 billion. The comeback is about to turnaround for the billionaire Sunil Mittal.
As the Reliance Jio Infocomm Ltd. topped in the position of world’s second-biggest wireless market, lagging behind Airtel. Before this, Mittal’s company has been sent a court order to pay $3 billion of fee, which forced the operators to raise the capital.
According to Arun Kejriwal, the director of an investment advisory firm, the market assumed that Bharati Airtel will take months to recover the situation, but they raised fund from the market to move quickly to use the advantage of duopolistic nature of Indian telecom spectre.
The battle between former no 1 and current topper of Indian telecom market had started in 2016, when Ambani started the 4G service, with free calling service and cost-effective data packages, which rule over the market for few years.
On the other hand, Airtel has been tried to compete for the situation with their payments, video-on-demand and –commerce divisions. Recently, it has been reported that Amazon is going to deal with Airtel to acquire a 5% stake. They will proceed to access the 300 million subscribers of Indian Wireless carrier.