Bharti Infratel

A combined 74.4 million equity shares had changed hands on the bourses till 9:52 AM. According to reports, British telecom giant Vodafone was in discussions to sell around 5% stake in Indus Towers

The company said it has initiated due process for getting final approval from stock exchanges to update the name to Indus Towers

The stock of the company has rallied 7 per cent in the past two trading days.

The telecom operator has bought close to 133 million shares in the tower arm at Rs 216 apiece, for a total of Rs 2,870 crore.

Bharti Airtel on Wednesday said its subsidiary Nettle Infrastructure Investments has acquired an additional 4.94 per cent stake in Bharti Infratel for Rs 2,882.32 crore.

Analysts at ICICI Securities see near-term stock supply only from Providence PE, which may monetise its stake as it had earlier opted for part cash-out

Apart from double taxation benefits on dividend pass through, there would not be major benefit for Bharti Infratel as a combined entity, say analysts at ICICI Securities

The scrip of debt-ridden VIL jumped over 8 per cent while that of Bharti Infratel soared 19 per cent

Vodafone Group will hold 28.12 per cent stake in the merged entity, while the holding of Airtel Group will be about 36.7 per cent

Bharti Infratel on Thursday announced a 24 per cent year-on-year decline in its profit after tax of Rs 733 crore for the quarter ended September

The company, which has received the go ahead on merger with Indus Towers, expects the trend to continue in the near term

All that happened in the markets today

The company completed the merger of Indus Towers with itself during this (July-September) quarter

British telecom major Vodafone Group said it has received an approval from its lenders, who contributed in funding for Vodafone Idea, to proceed with the merger of Indus Towers with Bharti Infratel

The victory at the Hague however will boost sentiment for the stock

Infratel will be a majority shareholder in the merged entity with a likely stake of 68.6%, while London-listed Vodafone Group Plc (VOD.L) will hold 28.2%

Vodafone Idea has decided to cash out by selling its 11.15 percent stake in Indus. The move comes ahead of the Supreme Court's verdict in the AGR case today

Shares of Zee Entertainment Enterprises fell 3.7 per cent and that of Bharti Infratel ended flat. The two companies will be removed from the bluechip index

All that happened in the markets today

Bharti Infratel and Zee Entertainment Enterprises will be dropped from the Nifty 50, NSE Indices said in a statement