Bharti Hexacom Soars to Record High on Spectrum Deal with Adani, Airtel Remains Steady

Shares of !Bharti Hexacom surged by 3% to reach a fresh 52-week high of ₹1,689.9 apiece in morning trade today, following the announcement of a spectrum deal with Adani Data Networks. Meanwhile, shares of its parent company,

irtel, remained relatively quiet after hitting a 52-week high of ₹1,904 on April 21. In a post-market hours exchange filing yesterday, both Bharti Airtel and its subsidiary, Bharti Hexacom, revealed definitive agreements with Adani Data Networks. Under this deal, the Bharti Group entities will acquire the rights to utilize 400 MHz of spectrum in the 26 GHz band across six key circles: Gujarat (100 MHz), Mumbai (100 MHz), Andhra Pradesh (50 MHz), Rajasthan (50 MHz), Karnataka (50 MHz), and Tamil Nadu (50 MHz). The transaction is currently subject to customary statutory approvals and the fulfillment of standard conditions. This development comes at a time when the telecom department (DoT) had reportedly sought clarification from the Adani Group regarding its 5G rollout plans, despite obtaining a unified license over two years ago. This spectrum transfer suggests a strategic move by the Adani Group regarding its telecom ambitions. The market reaction indicates a positive outlook for Bharti Hexacom, likely due to the strengthening of its spectrum holdings in crucial regions. While Bharti Airtel's stock exhibited less movement today, it remains near its recent high, reflecting overall investor confidence in the telecom giant.