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Monday, 5 February 2018

Bharti Airtel spikes over 5 percent post investment by Singtel

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Bharti Airtel on Monday announced that SINGTEL (Singapore Telecom Limited) would invest Rs 2,649 crore in Bharti Telecom, the promoter company of Airtel, via preferential allotment of shares.  With this investment, Singtel's total stake together with its affiliates, in Bharti Telecom would increase to 48.90%.

Singtel presently holds 47.17% stake in Bharti Telecom. Bharti Enterprises continues to hold over 50% stakes in Bharti Telecom.

The move is seen to aid Bharti Airtel Limited in its combat for market share with Reliance Jio.

Shares of Bharti Aitel Limited was trading at Rs. 444.15 per share, up Rs. 21.80 or 5.16% on NSE at 12.20 PM, Monday. Whereas BSE Sensex was at 34,789.95, down 276.80 points or 0.79% and Nifty was at 10,675.15, down 85.45 points or 0.79%


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