Bharti Infratel jumps on bargain hunting

Bharti Infratel rose 3.56% to Rs 297.90 at 14:16 IST on BSE on bargain hunting after the stock fell 8.93% in the preceding three trading sessions to Rs 287.65 on 23 September 2014, from Rs 315.85 on 18 September 2014.

Meanwhile, the BSE Sensex was down 136.09 points, or 0.51%, to 26,639.60.

On BSE, so far 54,000 shares were traded in the counter, compared with an average volume of 1.68 lakh shares in the past one quarter.

The stock hit a high of Rs 300.50 and a low of Rs 285 so far during the day. The stock hit a record high of Rs 321.55 on 18 September 2014. The stock hit a 52-week low of Rs 149 on 29 October 2013.

The stock had outperformed the market over the past one month till 23 September 2014, rising 12.25% compared with 1.35% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.22% as against Sensex's 6.97% rise.

The large-cap company has an equity capital of Rs 1890.28 crore. Face value per share is Rs 10.

Bharti Infratel's after consolidated net profit surged 29.4% to Rs 462.80 crore on 6.6% growth in total income to Rs 2959.90 crore in Q1 June 2014 over Q1 June 2013.

Bharti Intratel is India's leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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