Bharti rings loud but slips on profit booking

DALAL STREET SPIKES

Private telecom major, Bharti Tele-Ventures hit a new 52-week high in intra-day trades on Friday after a huge block deal was executed at a premium to yesterday's closing price.

The stock, however, ended 1.87 per cent lower on profit booking at close. A huge block deal of 1.2 crore shares took place at the FII window at Rs 326 per share.

A leading FII broker only a couple of days back has reviewed the price target upwards in anticipation of strong growth in subscriber base in the next few years. The stock has had a dream run of late. From Rs 202.15 on April 27, the stock has zoomed to Friday's close of Rs 311.95.