Airtel shares rise 3% on Singtel alliance

Bharti Airtel shares rose by nearly 3 per cent today after the company joined hands with Singapore Telecommunications to deliver high-speed data network coverage across 325 cities in the Asia-Pacific, the Middle-East, Africa, Europe and the US under one network.
The stock went up 2.82 per cent to settle at Rs 351.80 on BSE. During the day, it jumped 3 per cent to Rs 352.70.
On NSE, it rose 2.69 per cent to close at Rs 351.90.
On the volume front, 2.77 lakh shares of the company were traded at BSE and over 29 lakh shares changed hands at NSE during the day.

"This association will strongly enhance our value proposition for enterprise customers by offering them a wider global reach and the largest reach within India under a single platform," Bharti Airtel Director, Strategic Ventures Manish Prakash had said in a statement yesterday.
Singtel's 200 points of presence (PoPs) in 160 cities around the world and Airtel's over 170 plus PoPs in 165 cities across India, Africa and the Middle-East will be part of the new network.
Bharti Airtel has also announced the launch of a new platform, Open Network, that will show users the status of its network coverage and quality map across the country.

This is being seen as a first of its kind initiative from an industry player to throw open its mobile network information to customers.