Bharti Airtel gains after acquiring telecom spectrum in MP and Chhattisgarh

Bharti Airtel rose 2.13% to Rs 347 at 9:30 IST on BSE after the company announced that it has signed a definitive agreement to acquire 100% equity stake in a firm that holds 20 MHz of BWA spectrum in Madhya Pradesh and Chhattisgarh.

The company made announcement after market hours yesterday, 26 August 2015.

Meanwhile, the S&P BSE Sensex was up 271.42 points or 1.06% at 25,986.08.

On BSE, so far 20,645 shares were traded in the counter as against average daily volume of 2.62 lakh shares in the past one quarter.

The stock hit a high of Rs 349.85 and a low of Rs 344.15 so far during the day. The stock had hit a 52-week low of Rs 332.60 on 25 August 2015. The stock had hit a 52-week high of Rs 452.45 on 21 July 2015.

Bharti Airtel has signed a definitive agreement to acquire 100% equity stake in Augere Wireless Broadband India (Augere), which holds 20 MHz of BWA spectrum in the telecom circles of Madhya Pradesh (MP) and Chhattisgarh.

On consolidated basis, Bharti Airtel's net profit rose 40.2% to Rs 1554.30 crore on 9.2% increase in total income to Rs 25112.20 crore in Q1 June 2015 over Q1 June 2014.

Bharti Airtel is one of leading global telecommunications service providers with operations in 20 countries across Asia and Africa.

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