Bharti Airtel is doing very well for itself while the rest of the market is tanking. The stock opened 4% higher at Rs.740 and went on to hit a new high at Rs.755.95.

The company announced today morning that right across the board it is hiking tariff by 20%. This is expected to see others, Vodafone too announce a hike.

Effective from 26th Nov, the company said that it has always maintained that the mobile Average Revenue Per User (ARPU) needs to be at Rs 200 and ultimately at Rs 300, so as to provide a reasonable return on capital that allows for a financially healthy business model. And that’s the reason for the price hike.

The company believes that this level of ARPU will enable the substantial investments required in networks and spectrum and will also give Airtel the elbow room to roll out 5G in India.