Bharti Airtel in Rs 1 trillion m-cap club

Domestic cellular major Bharti Airtel on Friday entered into the elite league of corporate entities with a market value of over Rs 1 trillion, joining ranks with giants like Reliance Industries, Infosys, ONGC, NTPC and TCS.

The share price of Bharti Airtel soared over 5 per cent in afternoon trade on Friday on the back of impressive second quarter results, taking its market capitalisation to over Rs 1,00,000 crore (Rs 1 trillion).

The company had a market-cap of Rs 95,598.79 crore (Rs 955.98 billion) before the commencement of today's trading session.

Currently, only five other companies - corporate behemoth RIL, state run energy giant ONGC, IT majors Infosys Technologies and Tata Consultancy Services and PSU power generation major NTPC enjoy a market-cap of over Rs 1 lakh crore.

Bharti has become the seventh company in the country's corporate history to attain a market cap of over Rs 1 lakh crore.

Wipro, whose current market cap is about Rs 80,000 crore (Rs 800 billion), had once achieved a market cap of over Rs 2 lakh crore.

The company's share price settled 4.55 per cent up at Rs 527.30 at the Bombay Stock Exchange after hitting the day's high at Rs 530, as against Thursday's close of Rs 504.35.

However, the shares jumped 5.54 per cent to close at Rs 531.15 at the National Stock Exchange.