Bharti Airtel hits 52-week high Govt OKs up to 100% FDI

Bharti Airtel rose 1.21% to Rs 517.55 after the government approved increasing the limit of foreign investment upto 100% of the paid up capital of the company.

The scrip rose 2.47% to the day's high of Rs 524, which is also a 52-week high for the stock.

The Department of Telecom (DoT) has approved raising of foreign direct investment in Bharti Airtel to 100%, the company said in a regulatory filing made after market hours on Tuesday.

The aforesaid approval read together with the RBI approval dated 3 July 2014 granted to the company allows the FPls/Flls to invest upto 74% of the paid up capital of the company.

 

Bharti Airtel is a global telecommunications company with operations in 17 countries across Asia and Africa.

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