Bharti Infratel hits new low on heavy volumes
The stock has underperformed the market by falling 13% in past two weeks compared to 2% fall in benchmark Sensex.
Bharti Inftratel has dipped 4% to Rs 186 on BSE on back of heavy volumes. The stock opened at Rs 190 and hit a low of Rs 181.80, its lowest level since listing in last year.
As many as a combined 1.15 million shares have already changed hands on the counter so far against an average around 0.50 million shares that were traded daily in past two weeks.
The stock of India's leading provider of tower and related infrastructure has underperformed the market by falling 13% in past two weeks compared to 2% fall in benchmark Sensex.
Bharti Infratel mobilized about Rs 4,200 crore via an initial public offering (IPO) to install new towers and upgrade and replace existing ones. The company had sold its shares in the IPO at Rs 220 per share, got listed on December 28, 2012.
As many as a combined 1.15 million shares have already changed hands on the counter so far against an average around 0.50 million shares that were traded daily in past two weeks.
The stock of India's leading provider of tower and related infrastructure has underperformed the market by falling 13% in past two weeks compared to 2% fall in benchmark Sensex.
Bharti Infratel mobilized about Rs 4,200 crore via an initial public offering (IPO) to install new towers and upgrade and replace existing ones. The company had sold its shares in the IPO at Rs 220 per share, got listed on December 28, 2012.