Bharti Airtel rose 1.29% to Rs 352.20 at 9:30 IST on BSE after it has decided to sell up to 5.5 crore shares with an upsize option of up to 1.75 crore additional shares of its subsidiary company Bharti Infratel today, 26 February 2015.
The company made the announcement before market hours today, 26 February 2015.
Meanwhile, the S&P BSE Sensex was down 24.14 points or 0.08% at 28,983.85.
On BSE, so far 11,299 shares were traded in the counter as against average daily volume of 2.68 lakh shares in the past quarter.
The stock of telecom firm hit a high of Rs 352.80 and low of Rs 349.30 so far during the day. The stock had hit a 52-week high of Rs 419.90 on 19 September 2014. The stock had hit a 52-week low of Rs 282.30 on 5 March 2014.
Shares of Bharti Infratel dropped 3.69% to Rs 357.10.
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Bharti Airtel said it has decided to sell up to 5.5 crore shares (with an upsize option of up to 1.75 crore additional shares) of its subsidiary company Bharti Infratel today, 26 February 2015 through stock exchanges. The transaction is subject to market conditions. The company will provide further updates, as necessary, upon consummation of the transaction.
Bharti Airtel holds 74.85% stake or 141.50 crore shares in Bharti Infratel as at 31 December 2014.
Bharti Airtel's consolidated net profit jumped 135.4% to Rs 1436.50 crore on 5.4% rise in total income to Rs 23228.10 crore in Q3 December 2014 over Q3 December 2013.
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