Bharti Infratel extends gain after Airtel hikes stake through open market

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

Shares of Bharti Infratel moved higher by 3 per cent to Rs 232, recovering nearly 5 per cent from the day’s low of Rs 222 on the BSE on Thursday after Bharti Airtel, the promoter of the company, hiked stake in the company through its subsidiary via open market.

The stock of the company, engaged in activities of providing telecom tower infrastructure sharing for telecommunication services, has rallied 7 per cent in the past two trading days.

On Wednesday, December 2, 2020, Bharti Airtel’s wholly-owned subsidiary Nettle Infrastructure Investments Ltd bought 133 million shares or 4.94 per cent