Bharti Airtel Bharti Airtel

IIFL Securities has also upgraded Indus Towers stock to 'Buy' with a target of Rs 379, and has raised Bharti Airtel stock's target price to Rs 1,379

Bharti Airtel today said it has received approvals from market regulator SEBI and stock exchanges (BSE and NSE) for the proposed merger with Telenor India.The Sunil Bharti Mittal-owned company in February had announced to acquire the business of Telenor India for an undisclosed sum in all seven circles where the latter holds spectrum. As part of the deal, Airtel would take over Telenor India's spectrum, licences and operations, including its employees and customer base of 44 million. In a stock exchange filing, Airtel said "it has received the approval of the Securities and Exchange Board of India (SEBI), BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) for the proposed scheme of merger between Airtel and Telenor (India) Communications Private Limited." The company further stated that Telenor India and Airtel have today filed the joint company application before the New Delhi Bench of the National Company Law Tribunal for approval of the proposed scheme of merger. .