Bharti Airtel rose 1.43% to Rs 433 at 14:38 IST on BSE, extending yesterday's gains triggered by termination of the deal between the company and Helios Towers Africa.
Bharti Airtel made the announcement after market hours on Wednesday, 17 June 2015. Shares of Bharti Airtel rose 1.29% to Rs 426.55 yesterday, 18 June 2015. The stock has risen 2.83% in two sessions from Rs 421.10 on Wednesday, 17 June 2015.
Meanwhile, the BSE Sensex was up 267.90 points, or 0.99%, to 27,383.73.
On BSE, so far 92,000 shares were traded in the counter, compared with an average volume of 3.85 lakh shares in the past two weeks.
The stock hit a high of Rs 433 and a low of Rs 425.05 so far during the day. The stock hit a 52-week high of Rs 434.70 on 29 May 2015. The stock hit a 52-week low of Rs 326.75 on 14 July 2014.
The large-cap company has an equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
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Bharti Airtel said that the agreements for sale of tower assets in Tanzania and Tchad between the respective subsidiaries of Bharti Airtel and Helios Towers Africa (HTA) have lapsed and therefore stands terminated.
The company in July last year signed a deal with HTA for sale of 3,100 towers in four countries across its African operations. Airtel has operations in 17 African countries.
Bharti Airtel's consolidated net profit rose 30.5% to Rs 1255.30 crore on 3.6% growth in net sales to Rs 23015.50 crore in Q4 March 2015 over Q4 March 2014.
Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa.
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