Volumes jump at Bharti Infratel counter

Adani Enterprises, Shoppers Stop, Delta Corp and Bharti Airtel are among the other stocks to see a surge in volumes on BSE today, 19 September 2013.

Bharti Infratel clocked volume of 8.55 lakh shares by 13:08 IST on BSE, a 164.86-times surge over two-week average daily volume of 5,000 shares. The stock rose 3.46% to Rs 164.50 after a block deal of 7.96 lakh shares, or 0.04% equity, was executed in the counter on BSE at Rs 165 per share at 10:40 IST.

Adani Enterprises notched up volume of 45.57 lakh shares, a 15.28-fold surge over two-week average daily volume of 2.98 lakh shares. The stock jumped 5.35% to Rs 142.70.

Shoppers Stop saw volume of 2 lakh shares, a 8.14-fold surge over two-week average daily volume of 25,000 shares. The stock rose 1.72% to Rs 354.

Delta Corp clocked volume of 14.43 lakh shares, a 4.68-fold surge over two-week average daily volume of 3.08 lakh shares. The stock surged 14.58% to Rs 73.85.

Bharti Airtel saw volume of 13.56 lakh shares, a 4.09-fold rise over two-week average daily volume of 3.31 lakh shares. The stock jumped 4.64% to Rs 353 after a block deal of 10 lakh shares, or 0.03% equity, was executed in the counter on BSE at Rs 355.20 per share at 10:06 IST.

Firmness in Bharti Airtel shares was also triggered by a media report that Singapore Telecommunications (SingTel), the largest foreign investor in Bharti Airtel, has urged the company to lead the consolidation drive in the domestic telecom market and said it will support such moves.

SingTel Chairman Simon Israel was quoted by media as saying that India desperately needs consolidation. Globally, the mobile industry is a scale game.

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