Shares of Bharti Airtel Ltd. hit a nearly one-month high on Tuesday after it partnered with Apple Inc. for Apple TV+ and Apple Music in India. The telecom giant entered into a strategic partnership with the California-based company to provide its Apple TV+ and Apple Music services to customers in India, Bharti Airtel said in a press release on Tuesday.
Airtel Xstream customers can explore contents from Apple TV+, which is included with premium Airtel WiFi and postpaid plans, the press release said.
Airtel users will also have access to Apple TV+ and Apple Music. Premium users of Wynk, Bharti Airtel's music application, will get exclusive offers for Apple TV+ and Apple Music, the press release said.
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Shares of Bharti Airtel rose as much as 0.82% to Rs 1,526.00, the highest level since July 28. It was trading 0.58% higher at Rs 1,522.95 as of 12:40 p.m., compared to 0.16% advance in the NSE Nifty 50 index. The stock has been rising for fifth straight day since Aug 21.
The stock has gained 74.77% in last 12 months and 47.45% on year to date basis. Total traded volume on NSE so far in the day stood at 0.39 times its 30-day average. The relative strength index was at 63.57.
Out of 33 analysts tracking the company, 24 maintain a 'buy' rating, seven recommend a 'hold,' and two suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 3.5%
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