te Airtel shares jump over 4% intraday amid a strategic partnership with TCS for 5G solutions | Zee Business

Airtel shares jump over 4% intraday amid a strategic partnership with TCS for 5G solutions

The shares of Bharti Airtel jumped over four per cent to Rs 562.05 per share on the BSE intraday trade today, as the telecom company to collaborate with Tata Consultancy Services for 5G solutions. 

Airtel shares jump over 4% intraday amid a strategic partnership with TCS for 5G solutions
TCS shares jumped almost two per cent to Rs 3327 per share on the BSE intraday: PTI

The shares of Bharti Airtel jumped over four per cent to Rs 562.05 per share on the BSE intraday trade today, as the telecom company to collaborate with Tata Consultancy Services for 5G solutions. 

In a filing to the exchanges, Bharti Airtel said, “The company along with Tata Group on Monday announced a strategic partnership for implementing 5G networks solutions for India.” 

“Tata Group has developed a ‘state of the art’ O-RAN based Radio & NSA/SA Core and integrated a totally indigenous telecom stack, leveraging the Group capabilities and that of its partners. This will be available for commercial development starting Jan 2022.” The telecom company added. 

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Airtel will pilot and deploy this indigenous solution as part of its 5G rollout plans in India and start the pilot in January 2022, as per the guidelines formulated by the government. 

At around 02:15 pm, Airtel’s shares were trading flat by positive to Rs 540.05 per share as compared to Rs 539.5 per share previous close. 

On the other hand, the shares of TCS jumped almost two per cent to Rs 3327 per share on the BSE intraday trade as compared to Rs 3272.45 per share previous close. At around 02:15, the stock was trading over one per cent to Rs 3307.6 per share today. 

Airtel is a Board member of the O-RAN Alliance and is committed to explore and implement O-RAN based networks in India.  

Airtel became the first telecom company in India to demonstrate 5G over its live network in the city of Hyderabad earlier this year and has started 5G trials in major cities using spectrum allocated by the Department of Telecom.

Meanwhile, a brokerage firm UBS maintaining a Buy stance on Bharti Airtel, sets a target at Rs 655 per share amid the tie-up news with Tata Group for indigenous 5G solutions. It points out that the agreement is positive for the overall 5G ecosystem.

Reported By: ZeeBiz WebTeam
Written By: ZeeBiz WebTeam
Edited By: Prashant V. Singh
Updated: Tue, Jun 22, 2021
05:35 pm
Mumbai, ZeeBiz WebDesk
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