Bharti Airtel rose 0.94% to Rs 273.20 at 10:23 IST on BSE, with the stock recovering on bargain hunting after 4-day 7.75% slide.
Meanwhile, the S&P BSE Sensex was up 6.68 points or 0.04% at 18,456.91.
On BSE, 58,000 shares were traded in the counter as against average daily volume of 5.67 lakh shares in the past one quarter.
The stock hit a high of Rs 274.95 and a low of Rs 270.25 so far during the day. The stock had hit a 52-week high of Rs 370.40 on 25 January 2013. The stock had hit a 52-week low of Rs 238.50 on 30 August 2012.
The stock had underperformed the market over the past one month till 5 April 2013, sliding 15.93% compared with the Sensex's 3.62% fall. The scrip had also underperformed the market in past one quarter, declining 17.26% as against Sensex's 6.74% fall.
The large-cap company has equity capital of Rs 1898.76 crore. Face value per share is Rs 5.
Shares of Bharti Airtel had declined 7.75% in four trading sessions to settle at Rs 270.65 on Friday, 5 April 2013, from a recent high of Rs 293.40 on 1 April 2013.
Bharti Airtel on 26 March 2013 said that its wholly-owned subsidiary Bharti Airtel International (Netherlands) B.V. has successfully raised $500 million notes (the Additional Notes) in addition to the recently concluded transaction of $1 billion 5.125% Fixed Rate Senior Unsecured Guaranteed 144A/Reg S Notes due 2023. The Additional Notes were issued at a premium and priced at 100.625% to yield 5.044% and will be consolidated and form a single series a long with the $1 billion 5.125% Guaranteed Senior Notes due 2023 issued on 11 March 2013. Following the highly successful recent inaugural US dollar bond transaction on 4 March 2013, the bonds of Bharti Airtel had witnessed a strong rally in the secondary market and additional notes were issued to tap the unsatisfied investor demand through a follow-on issuance, Bharti Airtel said. The transaction drew an order book of approximately $2 billion with participation from 140 high quality investor accounts.
Bharti Airtel on 20 March 2013 announced the launch of Airtel prepaid and postpaid 4G services in Chandigarh, Mohali & Panchkula - the fastest high-speed data experience available for customers in the state of Punjab.
Bharti Airtel on 19 March 2013, said that the management is saddened at the summons being issued to Bharti Airtel (earlier Bharti Cellular) and to Sunil Bharti Mittal, as the Chairman & Managing Director of Bharti Airtel, whilst taking cognizance of the Charge Sheet filed by the CBI against Bharti Airtel, two Vodafone entities and an individual. This matter pertains to certain policy decisions taken during the NDA Government in 2002. Bharti Airtel said that it will fight this charge sheet against Bharti Airtel and Sunil Bharti Mittal.
The company said that it would like to reiterate that Bharti Airtel and its promoters have always practised the highest standards of corporate governance and accordingly view the Charge Sheet as an attempt to tarnish its high reputation.
Bharti Airtel's consolidated net profit declined 71.9% to Rs 283.70 crore on 9.5% growth in net sales to Rs 20239.50 crore in Q3 December 2012 over Q3 December 2011.
Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, the company ranks amongst the top 4 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce.
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