Friday, 24 March 2017

Bharti Airtel gains nearly 3% on acquiring 4G biz of Tikona

Shares of Bharti Airtel soared nearly 3 per cent in early trade on the Bombay Stock Exchange (BSE) after telecom major said it will acquire the 4G business of Tikona Networks for about Rs 1,600 crore. Buoyed by the development, shares of the company gained as much as 2.83 per cent to hit an intra-day high of Rs 348.00 apiece on the Bombay Stock Exchange. In a similar fashion, stocks of lender climbed 1.08 per cent to Rs 342.15 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 29,476.76, up 144.60 points, or 0.49 percent at 10:15 hours.

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