Integrated Core Strategies (Asia) sells 0.67% in Bharti Airtel

On 26 February 2021, Integrated Core Strategies (Asia) offloaded 3.70 crore equity shares (0.68% equity) of Bharti Airtel at Rs 556.46 per share via bulk deal on the NSE.

Integrated Core Strategies (Asia) had acquired 3.80 crore shares, or 0.7% stake in Bharti Airtel on 31 August 2020 via bulk deal on the NSE.

Meanwhile, Airtel Digital, a wholly-owned subsidiary of Bharti Airtel has agreed to subscribe to 5,000 equity shares (10% stake) in Ferbine for a cash consideration of Rs 50,000 on Thursday, 25 February 2021. The transaction is expected to be completed by 5 March 2021.

On a consolidated basis, the telecom major reported a net profit of Rs 853.60 crore in Q3 FY21 as against net loss of Rs 1,035.30 crore in Q3 FY20. Net sales during the quarter jumped 24.2% year-on-year (Y-o-Y) to Rs 26,517.80 crore.

 

Bharti Airtel is a global telecommunications company with operations in 18 countries across South Asia and Africa.

Shares of Bharti Airtel were down 4.07% at Rs 534.45.

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