Bharti Airtel up 3 per cent

The Bharti Airtel stock jumped almost 3 per cent to Rs 299.95 in falling markets after SingTel said it had agreed to increase its effective stake in the company to 31.95 per cent from 30.43 per cent.

SingTel, through its wholly-owned subsidiary, Pastel, has executed a conditional share purchase agreement with the Bharti group to hike its stake in Bharti Telecom, the promoter company of Bharti Airtel. Under the agreement, SingTel will acquire an additional 730,000 shares in Bharti Telecom, which holds about 45.3 per cent in Bharti Airtel.