CCI approves proposed merger of Telenor with Bharti Airtel
Bharti Airtel Limited in BSE filing on Tuesday said that the Competition Commission of India (CCI) has approved the proposed merger of Telenor (India) Communications Private Limited with Bharti Airtel Limited.
Bharti Airtel Limited was trading at Rs 367.90, down by Rs 4.45 or 1.20% as at 11.10 on Tuesday, on the BSE. The stock had hit a low of Rs 367.50.
As the debt crisis is widening for the Telecom industry, it is looking for a way out by through such mergers. Earlier this year, Vodafone and Idea created the biggest merger of the industry. Reliance Communications has also recently announced its merger with Aircel, which will be called ‘Aircom’.
Stock view –
Bharti Airtel Ltd is currently trading at Rs 368, down by Rs 4.35 or 1.17% from its previous closing of Rs 372.35 on the BSE.
The scrip opened at Rs 372.35 and has touched a high and low of Rs 372.5 and Rs 367.5 respectively. So far 1028462(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 148843.19 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 400.65 on 23-Feb-2017 and a 52 week low of Rs 283.95 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 381.35 and Rs 365.75 respectively.
The promoters holding in the company stood at 67.14 % while Institutions and Non-Institutions held 26.37 % and 6.46 % respectively.
The stock is currently trading above its 50 DMA.
Bharti Airtel Ltd :-
BSE 368.35 [4] ([1.07]%)
NSE 368.00 [4.40] ([1.18]%)
Comments
Post a Comment