Bharti single brand plan gets a thumbs up

DALAL STREET SPIKES

Bharti Tele-Ventures rose to hit an intra-day high of Rs 146.70 on Thursday, before closing at Rs 145.50, up 1.61 per cent over Wednesday's close.

More than 6.58 lakh shares were traded on the BSE. Players said the counter witnessed renewed buying interest after telecom service provider Bharti group on Thursday announced its plans to bring all its services under its flagship Airtel brand.

It would also invest around Rs 600 crore to launch cellular services in six new circles by March. "A unified brand approach would mean common identity, scale and size for Bharti. The aim is to provide the entire gamut of services, be it mobile, land-line or broadband, under one roof," said Rajan Mittal, joint managing director, Bharti Tele-Ventures.

Mittal said with unification, Airtel would be among the biggest brands across all segments, including consumer durables, FMCG or services.

Following the launch in new circles, Bharti will have its footprint in all 23 cellular circles in the country.