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BSE   21 Aug 18 | 12:00 AM

287.50 3.15 (1.11%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 534816
Face Value: N.A.

NSE   21 Aug 18 | 12:00 AM

287.50 2.7 (0.95%)
Mkt Price (Rs)   Chg Rs (Chg %)
1 Week : Rs 283.60 (1.38%)
1 Month : Rs 285.85 (0.58%)
1 Year : Rs 387.30 (-25.77%)
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Bharti Infratel hits 52-week low; stock down over 15% in two sessions

SI Reporter / Mumbai 31 Jan 17 | 11:44 AM

Bharti Infratel fell to its 52-week low of Rs 287, down 13% on the BSE in intra-day trade on back of heavy volumes.

The stock of telecom services provider tanked 19% in past two trading sessions from Rs 354 on Friday, after Vodafone on Monday said it is in talks to merge its unlisted Indian subsidiary with Idea Cellular.

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Bharti Infratel is the passive infrastructure subsidiary of Bharti Airtel. It holds 42% stake in Indus towers - a joint venture between the top 3 GSM incumbents – Bharti (42%), Vodafone (42%) and Idea (16%).

On a consolidated basis, it has a tower portfolio of 86,000 towers. Bharti Infratel and Indus towers have together account for around 40% of the Indian wireless tower base.

Idea and Vodafone merger would be a clear negative for Bharti Infratel. The merger could risk long term tenancy addition, analysts at Emkay Global Financial Services said in recent note.

At 11:42 am; the stock was down 10% at Rs 295 on the BSE as compared to 0.55% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than three-fold with a combined 6.62 million shares changed hands on the BSE and NSE.

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