Bharti Airtel top gainer as it receives approval for merger with Telenor

Shares of Bharti Airtel rallied nearly 4% after the company said it has received approvals from market regulator Sebi and stock exchanges (BSE and NSE) for the proposed merger with Telenor India.

Reacting to the news, the stock rose as much as 3.8% to Rs 381 on the BSE, and was the top Sensex gainer. 

So far, 81,000 exchanged hands on the counter against its two-week average of 3.91 lakh shares. 

The stock underperformed the Sensex by gaining 3.5% over the past one month against 4% rise in Sensex.

Airtel had announced in April to acquire the business of Telenor