Bharti Airtel share price will likely hog the limelight in Wednesday’s trading session after the telecom major announced today, March 11, that it has signed a deal with Elon Musk‘s SpaceX to bring Starlink’s satellite internet to India.
The agreement to bring Starlink’s high-speed internet services to India are “subject to SpaceX receiving its own authorizations to sell Starlink in India”, Airtel informed exchanges via an exchange filing on Tuesday.
Airtel and SpaceX will explore offering Starlink equipment in Airtel’s retail stores and its services to Sunil Mittal-led firm’s customers, while SpaceX will explore how Starlink could help expand and enhance the Airtel network and utilise and benefit from Airtel’s ground network infrastructure and other capabilities in India, the company’s exchange filing added.
Bharti Airtel‘s decision to partner with SpaceX follows Musk’s meeting with Prime Minister Narendra Modi in Washington. This move is also expected to heat up the competition with rival Mukesh Ambani’s Jio Infocomm.
“Working with SpaceX to offer Starlink to Airtel customers in India is a significant milestone and further demonstrates our commitment to next-generation satellite connectivity,” said Gopal Vittal, Managing Director and Vice Chairman, Bharti Airtel. “This collaboration enhances our ability to bring world-class high-speed broadband to even the most remote parts of India, ensuring that every individual, business, and community has reliable internet,” Vittal added.
How will SpaceX deal impact Airtel share price?
Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said Bharti Airtel’s collaboration with SpaceX aims to enhance digital connectivity across the country, especially in remote and underserved regions. “By combining Airtel’s market expertise with Starlink’s satellite technology, the partnership seeks to provide reliable internet access to businesses, schools, health centers, and rural communities. This initiative underscores a commitment to bridging the digital divide and advancing technological infrastructure in India,” Jain said.
From a technical perspective, he said, the stock is trading in a range, but a breakout could push Airtel share price to above ₹1,900 levels. “Currently, Bharti’s stock is trading within a range of 1511-1733 and is moving toward the upper end of this range. A breakout above 1733 could push the stock toward 1900,” Jain opined.
On Tuesday, Bharti Airtel shares ended at ₹1661.20 on the BSE, up 1.93%.
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