Bharti Airtel rises on rating upgrade

DALAL STREET SPIKES

Bharti Airtel rose 3.05 per cent to end the day at Rs 671, after global rating agency Fitch upgraded the company's long-term foreign currency issuer default rating to "BBB-" from "BB+".

The Fitch rating upgrade reflects the strengthening of Bharti's consolidated financial profile over the last three financial years to March 2008, underscoring a strong earnings growth and a sustained decline in net leverage. The stock made an intraday high of Rs 675 and a low of Rs 630. The stock witnessed trading volumes of 9,76,316 shares, its two-week average being 10,58,204 shares.