Bharti Airtel hits highest level since October 2007 on 100% FDI nod

The Department of Telecom has approved raising of foreign direct investment (FDI) in the company to 100 per cent from 49 per cent allowed earlier.

Shares of Bharti Airtel were up 2 per cent to Rs 524 on the BSE on Wednesday after the Department of Telecom (DoT) approved raising foreign direct investment (FDI) in the company to 100 per cent from 49 per cent allowed earlier.

The telecom services provider's stock was trading at its highest level since October 15, 2007. It touched its all-time high of Rs 527 on October 10, 2007.

In the past week, the stock has rallied 20 per cent amid expectations that the telecom company is poised for strong market share gain. In comparison, the S&P BSE