Bharti Airtel rose 0.68% to Rs 340.60 at 13:09 IST on BSE after the company announced the signing the definitive agreement with Loop Mobile (India).
The announcement was made before market hours today, 23 June 2014.
Meanwhile, the S&P BSE Sensex was down 181.65 points or 0.72% at 24,923.86.
On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 2.82 lakh shares in the past one quarter.
The stock hit a high of Rs 342.60 and a low of Rs 338 so far during the day. The stock hit a 52-week high of Rs 373.50 on 1 November 2013. The stock hit a 52-week low of Rs 277.10 on 26 June 2013.
The stock had underperformed the market over the past one month till 20 June 2014, sliding 2.72% compared with the Sensex's 2.99% rise. The scrip had, however, outperformed the market in past one quarter, surging 14.54% as against Sensex's 15.48% rise.
The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
In February this year, Bharti Airtel and Loop Mobile announced a strategic agreement for combining their operations in Mumbai (India) service area. Bharti Airtel, however, did not disclose how much it was paying for acquiring the assets of Loop Mobile (erstwhile BPL Mobile), which currently only operates in Mumbai, with 3 million subscribers.
Bharti Airtel's consolidated net profit jumped 89.1% to Rs 961.60 crore on 13.5% growth in net sales to Rs 22219.30 crore in Q4 March 2014 over Q4 March 2013.
Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa.
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