01-01-1970 12:00 AM | Source: IANS
Bharti Airtel surges on inking pact to acquire 25% stake in Lavelle Networks
News By Tags | #51 #572 #276

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Bharti Airtel is currently trading at Rs. 728.65, up by 12.75 points or 1.78% from its previous closing of Rs. 715.90 on the BSE.

The scrip opened at Rs. 730.25 and has touched a high and low of Rs. 731.70 and Rs. 719.40 respectively. So far 251028 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. 489.93 on 25-Mar-2021.

Last one week high and low of the scrip stood at Rs. 752.80 and Rs. 677.50 respectively. The current market cap of the company is Rs. 428260.44 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 has entered into agreement to acquire around 25% equity stake in Bengaluru based technology startup, Lavelle Networks. The agreement is subject to applicable statutory approvals. The home grown Lavelle Networks specializes in Software-defined Wide Area Network solutions and it serves a range of industry segments. Its platform has connected several thousands of Indian enterprises from the nation's largest financial institutions to e-commerce networks.

Airtel Business’ Network as a service (NaaS) is a digital platform, which is built to address the emerging connectivity requirements of enterprises as they go through the cloud & digital adoption and acceleration journey. As part of its NaaS portfolio, Airtel will offer software defined connectivity solution from Lavelle Networks and co-create a host of innovations as part of its NaaS platform. This also aims to bring “Made in India” products & solutions for enterprises by offering cutting edge technology and cost efficiencies.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.