of telecom operator Bharti Airtel
on Monday surged nearly 6% after the company acquired 4.2% stake held by Econet Wireless
in its Nigerian arm.
The stock soared 5.53% to end at Rs 317.50 on BSE. During the day, it zoomed 6% to Rs 319.20.
At NSE, it jumped 5.91% to close at Rs 318.80.
The stock was the top gainer on both Sensex and Nifty during the day.
The company added Rs 6,656.45 crore to Rs 1,26,917.45 crore in its market valuation.
On the volume front, 3.12 lakh shares
of the company were traded on BSE
and over 44 lakh shares
during the day.
International (Netherlands) BV through its wholly owned subsidiary has completed the acquisition of Econet Wireless
Limited's entire 4.2% shareholding in Airtel
Nigeria. As a result, Airtel's overall holding in Airtel
Nigeria has increased to 83.25%," Airtel
said in a statement on Saturday.
Though financial details of the deal were not disclosed, Econet had valued the stake at $3 billion.