Wednesday, 29 March 2017

Bharti Infratel extends gain post stake sale plan by parent co

Shares of Bharti Infratel extended rally on Wednesday and spiked nearly 7 percent on the Bombay Stock Exchange after parent company, Bharti Airtel, sold 10.3 percent stake in the company to a consortium of global private equity firms KKR and Canada Pension Plan Investment Board (CPPIB). Continuing its gaining momentum, shares of company rose as much as 6.79 per cent to hit intraday high of Rs 340.40 apiece on Bombay Stock Exchange. In a similar fashion, stocks of company were up 3.70 percent to trade at Rs 330.45 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 29,528.44, up 118.92 points, or 0.40 percent, at 11:50 hours.

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