Bharti Infratel hits 52-week low; stock down over 15% in two sessions

The stock hit 52-week low of Rs 287 on the BSE in intra-day trade, down 19% in past two trading days

Bharti Infratel fell to its 52-week low of Rs 287, down 13% on the BSE in intra-day trade on back of heavy volumes.

The stock of telecom services provider tanked 19% in past two trading sessions from Rs 354 on Friday, after Vodafone on Monday said it is in talks to merge its unlisted Indian subsidiary with Idea Cellular.

Bharti Infratel is the passive infrastructure subsidiary of Bharti Airtel. It holds 42% stake in Indus towers - a joint venture between the top 3 GSM incumbents – Bharti (42%), Vodafone (42%) and Idea (16%).

On a consolidated