Bharti Airtel hits two-year high; stock up 16% in one week

Moody's Investors Service says that Bharti's acquisition of Tata's consumer telecom business is credit positive.

Bharti Airtel has hit a two-year high of Rs 441, up 2% in intra-day trade, extending its past four day gain on the BSE, after the company on Friday, October 13, said it had agreed with Tata  Teleservices Limited (TTSL) and Tata Teleservices Maharashtra (TTML), to combine their consumer mobile business (Tata CMB) with Bharti.

The stock is trading at its highest level since July 2015. It past one week, it rallied 16% as compared with 2.3% gain in the S&P BSE Sensex.

The transaction is subject to requisite regulatory and other approvals and expected to take 6-9