Bharti Airtel share price rises 2% after company signs deal with Elon Musk’s SpaceX; Do you own? | Stock Market News
Source: Live Mint
Telecom giant Bharti Airtel’s share price surged as much as 2 per cent on Wednesday’s trading session after the company announced it has signed a partnership with Elon Musk’s SpaceX to provide Starlink’s high-speed internet services in India.
At 9:20 am, Bharti Airtel stock was trading at ₹1,689.95 on March 12. Despite weak market sentiments, Airtel stock has rallied over 5 per cent on NSE.
The partnership aims to explore the availability of Starlink equipment in Airtel’s retail stores, offer Starlink services to business customers through Airtel, and enhance connectivity in rural areas.
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However, Bharti Airtel’s announcement does not indicate that its collaboration with SpaceX is exclusive, though it does create a new revenue opportunity for the company.
In the short term, the benefits of this deal may be limited, as Starlink has yet to obtain its license in India.
(This is a developing story)
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