Bharti Airtel gains as its arm inks pact to acquire 11.34% stake in Avaada KNShorapur
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Bharti Airtel is currently trading at Rs. 715.90, up by 6.65 points or 0.94 % from its previous closing of Rs. 709.25 on the BSE.
The scrip opened at Rs. 714.95 and has touched a high and low of Rs. 716.90 and Rs. 710.45 respectively. So far 23444 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 781.90 on 24-Nov-2021 and a 52 week low of Rs. 501.02 on 26-Mar-2021.
Last one week high and low of the scrip stood at Rs. 723.00 and Rs. 697.35 respectively. The current market cap of the company is Rs. 417345.04 crore.
The promoters holding in the company stood at 55.93 % while Institutions and Non-Institutions held 38.85 % and 5.21 % respectively.
Bharti Airtel’s subsidiary-- Nxtra Data has entered into an Agreement for acquisition of 11.34% equity stake in Avaada KNShorapur, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws. The object of acquisition is to comply with regulatory requirement for captive power plants under the provisions of Electricity Act’ 2003 and Indian Electricity Rules, 2005 and procurement of cost-effective renewable energy.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
