Bharti Airtel rings loud on fund raising plan

Bharti Airtel gained 1.93% to Rs 411.20 at 09:22 IST on BSE after the company scheduled a board meeting on 12 March 2018 to consider raising funds through debt instruments including local or foreign bonds.

The announcement was made after market hours yesterday, 7 March 2018.

Meanwhile, the S&P BSE Sensex was up 246.38 points, or 0.75% to 33,279.47.

On the BSE, 29,000 shares were traded in the counter so far, compared with average daily volumes of 3.40 lakh shares in the past two weeks. The stock had hit a high of Rs 414 and a low of Rs 409.90 so far during the day. The stock had hit a 52-week high of Rs 565 on 3 November 2017. The stock had hit a 52-week low of Rs 325.50 on 22 March 2017.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel said that the meeting of board of directors of the company will be held on 12 March 2018, to consider enablement from board to opportunistically raise funds including by issuance of secured / unsecured, listed / unlisted, non-convertible debentures, bonds or such other similar debt instrument(s) either denominated in Indian rupees or in foreign currency.

Bharti Airtel's consolidated net profit fell 16.5% to Rs 560.70 crore on 12.93% decline in net sales to Rs 20318.60 crore in Q3 December 2017 over Q3 December 2016.

Bharti Airtel is a leading global telecommunications company with operations in 16 countries across Asia and Africa.

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