Bharti Infratel turns volatile after a block deal

Bharti Infratel lost 0.31% to Rs 159 at 12:39 IST on BSE after a block deal of 3.83 lakh shares was executed on the counter on BSE at Rs 160 per share at 11:58 IST.

The block deal constitutes 0.02% of Bharti Infratel's equity.

Meanwhile, the S&P BSE Sensex was down 16.01 points or 0.08% at 20,409.01.

On BSE, 3.84 lakh shares were traded in the counter as against average daily volume of 1,930 shares in the past two weeks.

The stock was volatile. The stock lost as much as 0.68% at the day's low of Rs 158.40 so far during the day. The stock rose as much as 1.5% at the day's high of Rs 161.90 so far during the day. The stock had hit a record high of Rs 215.50 on 29 January 2013. The stock had hit a record low of Rs 126.05 on 28 August 2013.

Bharti Infratel's consolidated net profit rose 12% to Rs 277.40 crore on 5% growth in net sales to Rs 2683.70 crore in Q2 September 2013 over Q2 September 2012.

Bharti Infratel is a provider of tower and related infrastructure and on a consolidated basis, it is one of the largest tower infrastructure providers in India, based on the number of towers owned and operated by Bharti Infratel and Indus. The business of Bharti Infratel and Indus is to acquire, build, own and operate tower and related infrastructure. Bharti Infratel and Indus currently provide access to their towers primarily to wireless telecommunications service providers on a shared basis.

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