Bharti Airtel hit an over 10-year high of Rs 564.80 today after a large block deal on the BSE but came off that level after investors realized that the deal was between promoter entities. The stock was up 1.2% at around 11:15 AM today.
A total of 184.7 million shares or 4.6% stake was exchanged between promoters Bharti Telecom and Indian Continent Investment at Rs 543 apiece. After completion of the proposed transaction, Bharti Telecom will hold 50.1% and Indian Continent Investment will hold 2.03% stake in Bharti Airtel.
Bharti Airtel Ltd is currently trading at Rs 548.7, up by Rs 5.6 or 1.03% from its previous closing of Rs 543.1 on the BSE.
The scrip opened at Rs 540 and has touched a high and low of Rs 565 and Rs 540 respectively. So far 195412688(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 217098.79 crore.
Bharti Airtel is a leading telecom player offering diversified telecom services, viz., wireless, fixed line, enterprise, and DTH services. Airtel is India’s largest mobile operator with 24% subscriber market share and 31% revenue market share. The company's revenue has grown at 4.4% CAGR over FY13-17.
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