Bharti Airtel is currently trading at Rs. 342.40, up by 4.00 points or 1.18% from its previous closing of Rs. 338.40 on the BSE.
The scrip opened at Rs. 341.60 and has touched a high and low of Rs. 348.00 and Rs. 341.15 respectively. So far 88,000 shares were traded on the counter.
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. 351.80 and Rs. 325.50 respectively. The current market cap of the company is Rs. 1,36,850.00 crore.
The promoters holding in the company stood at 67.14%, while Institutions and Non-Institutions held 26.39% and 6.47% respectively.
Bharti Airtel has entered into a definitive agreement with Tikona Digital Networks (Tikona) to acquire Tikona’s 4G Business including the Broadband Wireless Access (BWA) spectrum and 350 sites, in five telecom circles. The acquisition is subject to requisite regulatory approvals.
Tikona currently has 20 MHz spectrum in the 2300 MHz band in Gujarat, UP (East), UP (West), Rajasthan and Himachal Pradesh circles. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction.
As per the agreement, the acquisition of the 4G business in Gujarat, UP (East), UP (West) and Himachal Pradesh will be undertaken by Airtel, while in the Rajasthan circle, it will be accomplished through Airtel’s subsidiary Bharti Hexacom. Post-acquisition, the combined spectrum holding of Airtel in these five circles will be within the spectrum caps prescribed by the Government.