Bharti Airtel gained 4.55% to Rs 449 at 11:37 IST on BSE after the company entered into exclusive talks with Orange to sell its subsidiaries in Africa.
The announcement was made before market hours today, 21 July 2015.
Meanwhile, the BSE Sensex was up 10.76 points, or 0.04%, to 28,430.88
On BSE, so far 1.99 lakh shares were traded in the counter, compared with an average volume of 2.83 lakh shares in the past one quarter.
The stock hit a 52-week high of Rs 450.85 in intraday trade today, 21 July 2015. The stock hit a low of Rs 434.25 so far during the day. The stock hit a 52-week low of Rs 334.20 on 18 July 2014.
The large-cap company has an equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
Bharti Airtel said that the company's subsidiary Bharti Airtel International (Netherlands) BV (Airtel) and Orange have entered into an exclusive agreement concerning four Airtel subsidiaries in Africa. Orange and Airtel have entered into an exclusive agreements to explore the possible acquisition by Orange of Airtel's subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone, Bharti Airtel said. There is no certainty of any binding agreement as a result of these discussions, the company said.
Orange is one of the world's leading telecommunications operators with sales of 39 billion euros in 2014 and 1.55 lakh employees worldwide at 31 March 2015.
Bharti Airtel's consolidated net profit rose 30.5% to Rs 1255.30 crore on 3.6% growth in net sales to Rs 23015.50 crore in Q4 March 2015 over Q4 March 2014.
Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa.
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