 "Bharti Infratel surges post Compassvale stake sale")
Shares of Bharti Infratel have surged by almost 12% to Rs 436 on Bombay Stock Exchange (BSE) after Compassvale Investments Pte Ltd, an arm of Temasek, sold shares of the telecom tower company, worth Rs 660 crore, through the open market.
On Friday, August 28 2015, Compassvale Investments Pte Ltd had sold about 17.37 million shares at an average price of Rs 380.04 per share, according to bulk deal data on the BSE.
However, the data does not reveal the buyer’s name.
As of June end, Compassvale Investments held 30 million shares, representing 1.58% of total equity of Bharti Infratel, shareholding pattern data shows.
On Friday, the stock closed down nearly 1% at Rs 390, after hitting a low of Rs 380 on the BSE in intra-day trades.
At 10:05 AM, the stock was up 9% to Rs 423 on the BSE compared to a 0.45% decline in the S&P BSE Sensex. A combined around one million shares changed hands on the counter on the BSE and NSE.
On Friday, August 28 2015, Compassvale Investments Pte Ltd had sold about 17.37 million shares at an average price of Rs 380.04 per share, according to bulk deal data on the BSE.
However, the data does not reveal the buyer’s name.
As of June end, Compassvale Investments held 30 million shares, representing 1.58% of total equity of Bharti Infratel, shareholding pattern data shows.
On Friday, the stock closed down nearly 1% at Rs 390, after hitting a low of Rs 380 on the BSE in intra-day trades.
At 10:05 AM, the stock was up 9% to Rs 423 on the BSE compared to a 0.45% decline in the S&P BSE Sensex. A combined around one million shares changed hands on the counter on the BSE and NSE.