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Bharti Telecom plans to increase stake in Bharti Airtel
Bharti Telecom Ltd is planning to raise its stake in Bharti Airtel to over 50 per cent through open market purchases, according to reports.
Report says that the company intended to acquire stake from Indian Continental Investment Ltd (ICIL) that owns 6.65% stake in Bharti Airtel.
Bharti Airtel Ltd ended at Rs. 324, up by Rs. 3 or 0.93% from its previous closing of Rs. 321 on the BSE.
The scrip opened at Rs. 322 and touched a high and low of Rs. 325.3 and Rs. 318.6 respectively. A total of 2492777(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 129515.76 crore.
The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 452.45 on 21-Jul-2015 and a 52 week low of Rs. 282.3 on 29-Jan-2016. Last one week high and low of the scrip stood at Rs. 334.8 and Rs. 316.15 respectively.
The promoters holding in the company stood at 65.62 % while Institutions and Non-Institutions held 25.4 % and 8.93 %.