Bharti Infratel declines after recent sharp rally

Bharti Infratel lost 4.89% to Rs 409.40 at 12:57 IST on BSE, with the stock sliding on profit booking after recent steep rally.

Meanwhile, the S&P BSE Sensex was down 228.49 points or 0.85% at 26,807.36.

On BSE, so far 41,000 shares were traded in the counter as against average daily volume of 3.83 lakh shares in the past one quarter.

The stock hit a high of Rs 431 and a low of Rs 407.20 so far during the day. The stock had hit a 52-week low of Rs 274.45 on 7 November 2014. The stock had hit a record high of Rs 505 on 29 May 2015.

The stock had underperformed the market over the past one month till 7 October 2015, surging 6.31% compared with Sensex's 8.6% rise. The scrip, however, outperformed the market in past one quarter, declining 1.49% as against Sensex's 4.03% fall.

The large-cap firm has equity capital of Rs 1896.67 crore. Face value per share is Rs 10.

Shares of Bharti Infratel had rallied 21.33% in the preceding four trading sessions to settle at Rs 430.45 yesterday, 7 October 2015, from a recent low of Rs 354.75 on 30 September 2015.

On consolidated basis, Bharti Infratel's net profit rose 24.4% to Rs 575.70 crore on 6.1% growth in net sales to Rs 3015.70 crore in Q1 June 2015 over Q1 June 2014.

Bharti Infratel is a provider of telecom tower and related infrastructure.

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