Bharti Airtel share price rises over 3% to fresh 52-week high on partnership with Blinkit for 10-min SIM delivery

Bharti Airtel share price jumped more than 3% during Tuesday's trading, reaching a new 52-week high following the company's announcement of a collaboration with Blinkit to provide SIM cards to customers' homes in just 10 minutes.

The company has announced in an exchange filing that it is offering a unique service as a telco, which is now operational in 16 cities across the nation, with intentions to expand to additional cities and towns in the future.

“In the initial phase of this launch, the SIM delivery service will be available across 16 major cities, including metropolises such as Delhi, Gurgaon, Faridabad, Sonipat, Ahmedabad, Surat, Chennai, Bhopal, Indore, Bengaluru, Mumbai, Pune, Lucknow, Jaipur, Kolkata, and Hyderabad,” said the company in an exchange filing.

This partnership represents an important achievement, allowing customers to receive SIM cards at their homes in just 10 minutes for a nominal convenience fee of ₹49. After the SIM card is delivered, customers can activate the number easily through an Aadhaar-based KYC verification process.

“Simplifying customer lives is central to everything we do at Airtel. Today we are thrilled to partner with Blinkit for 10-minute SIM card delivery to customers’ homes across 16 cities and in due course of time we plan to expand this partnership to additional cities,” said Siddharth Sharma, CEO – Connected Homes and Director of Marketing, Bharti Airtel.

Albinder Dhindsa, the Founder and CEO of Blinkit, further stated that Blinkit handles the delivery, while Airtel simplifies the process for customers to complete self-KYC, activate their SIM cards, and select between prepaid or postpaid plans. Customers also have the option for number portability, all at their own convenience.

Blinkit, which was previously known as Grofers, is Eternal's quick-commerce venture. Grofers underwent rebranding to become Blinkit in 2021, aiming to offer 10-minute delivery e-commerce services throughout India. In 2022, Blinkit became a part of Eternal after its acquisition.

Bharti Airtel share price today

Bharti Airtel share price today opened at ₹1,800.05 apiece on the BSE, the stock touched an intraday high of ₹1,818 per share, and an intraday low of ₹1,779.45 apice.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Bharti Airtel share price has come out of its recent trading confirming a bullish breakout and marking fresh new high, This positive momentum can continue with ₹1,900 as immediate resistance, immediate support is at a gap left around ₹1,750.

Eternal share price today

Eternal share price today opened at an intraday high of ₹223.75 apiece on the BSE, the stock touched an intraday low of ₹220.25 per share. According to Anshul Jain, Head of Research at Lakshmishree Investment and Securities, Eternal share price is forming a slightly downward-sloping rectangle pattern on the weekly chart, with the breakout point placed near 240.

On the daily chart, the stock has reclaimed its 10-, 20-, and 50-day EMAs, but lacks relative strength and momentum. A breakdown would require a close below 190. Until either level is taken out decisively, the stock is expected to remain range-bound between 190 and 240 for an extended period. Traders should avoid aggressive positions and instead wait for a breakout or breakdown to trigger directional trades.

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