Fund-based buying boosts Bharti Tele

DALAL STREET SPIKES

Bharti Tele-Ventures stock jumped 5.76 per cent to Rs 183.40 in anticipation of strong subscription numbers for November. The stock hit an intra-day high of Rs 187, with volumes surging more than 47.8 lakh shares on BSE alone.

Sources said that the counter has been attracting fund based buying of late. Analysts said that the market is expecting strong subscription number from the company for the month ended November.

The scrip has witnessed a sustained rise in the past few months. From a low of Rs 132.75 on September 9, 2004, the scrip has soared more than 38 per cent to Wednesday's close of Rs 183.40. Bharti Tele reported strong second quarter results. On a consolidated basis, the net profit jumped 257 per cent to Rs 333.71 crore.