Bharti Airtel surges 6% on DoT nod for 100% FDI in downstream investments

Post revision of its foreign investor limit, Airtel's weightage in MSCI should go up, resulting in significant inflows into the stock

Shares of Bharti Airtel surged 6 per cent to Rs 600 on the BSE in Wednesday's early morning trade after the company said it has received required regulatory approvals for 100 per cent foreign direct investment (FDI) in its downstream companies. The company said it is initiating the process to revise its foreign investment limit to 100 per cent, with immediate effect.

The telecom services company' has rallied 10 per cent in the past two trading days. It was trading close to its 52-week high level of Rs 612 touched on May 20, 2020.

“In compliance of the FDI approval