Telecom stocks rocketed by relief package, Airtel’s market cap crosses 4 lakh crore for the first time, market closed on new record

Today the cabinet announced relief for the telecom sector. 9 structural reforms were done under the relief package. Telecom companies have been given a 4-year moratorium regarding the dues. With this relief, Airtel’s stock reached a record high and the company’s market cap crossed 4 lakh crores. Vodafone Idea also gained about 3 per cent. Today the stock market closed on a new record.

Shares of Bharat Airtel closed at Rs 725.50 with a gain of 4.51 per cent today. During trading, it had reached the level of Rs 734.95, which is its new all-time high. The company’s market cap today closed at Rs 398,446 crore. During the business, it had crossed Rs 4 lakh crore. Airtel’s stock has given a return of 9 per cent in the last one week, 13 per cent in a month and 44 per cent so far this year. Apart from this, the PLI scheme has also been announced for the auto sector, due to which there was a boom in the auto sector.

Sensex and Nifty closed at record high

A huge jump of 476 points was recorded in the Sensex today. After this rally, the Sensex closed at an all-time high of 58723, while the Nifty closed at the level of 17519 with a gain of 140 points. During trading, the Sensex reached the highest level of 58777 and Nifty 17532. NTPC, Bharti Airtel, HCL were today’s top gainers. Axis Bank, Asian Paints and UltraTech Cement were the top losers today. Today the market cap of BSE listed companies closed at Rs 259.68 lakh crore.

(This news is being written)