Hike in FPI limit, improving outlook positive signals for Bharti Airtel

Shares of the telecom operator hit a seven-month high of Rs 601.8 on BSE

Shares of Bharti Airtel hit an over seven-month high of Rs 601.8, rising 6.4 per cent in intra-day trade on the BSE Sensex on Wednesday, before closing 2.2 per cent higher, even as leading indices ended flat.

The optimism follows the telecom operator’s announcement to the stock exchanges on Tuesday that it has received necessary approvals to increase foreign ownership limits in its subsidiaries to 100 per cent from the current 49 per cent.

As a result, the company is revising its own foreign direct investment (FDI) limit to 100 per cent with immediate effect, as notified to its depositories.

After the revision,