Bharti Infratel rises on high volumes

Bharti Infratel rose 2.57% to Rs 221.50 after the counter witnessed multiple block deals in early trade today, 2 December 2020.

On the BSE, the counter clocked a volume of 8.06 crore shares as against its average trading volume of 5.55 lakh shares in the past one quarter. The stock gained 6.07% to hit a high of Rs 229.05 on BSE today.

On the NSE, the scrip advanced 2.43% to Rs 221.25. The counter clocked a volume of 11.48 crore shares compared with its average trading volume of 1.46 crore shares in the past one quarter. The stock added 5.53% to hit a high of Rs 227.95 on NSE today.

Bharti Infratel is India's leading provider passive telecom infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators. The company's consolidated portfolio of over 95,000 telecom towers, which includes over 43,000 of its own towers and the balance from its 42% equity interest in Indus Towers, makes it one of the largest tower infrastructure providers in the country with presence in all 22 telecom circles.

On a consolidated basis, the company's net profit dropped 24% to Rs 733 crore on 5.9% increase in net sales to Rs 1,766.40 crore in Q2 September 2020 over Q2 September 2019.

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