GET Stock QuotesNews18 APP
News18 English
cricketnext
»
1-min read

Bharti Airtel Jumps 8% on Tata Mobile Unit Deal

Shares of Tata Teleservices Maharashtra Ltd (TTML) zoomed 9.95 per cent to Rs 4.86 -- its highest trading permissible limit for the day -- on the BSE.

PTI

Updated:October 13, 2017, 1:41 PM IST
facebookTwittergoogleskypewhatsapp
Bharti Airtel Jumps 8% on Tata Mobile Unit Deal
The stock was the biggest gainer among blue-chips on both the key indices during the morning trade. (Image: REUTERS/File Photo)
New Delhi: Shares of Bharti Airtel on Friday surged up to 8 per cent as the company announced acquisition of Tata group's loss-making mobile telephony business, almost for free, boosting its spectrum holding and user base.

The stock after a positive opening jumped 7.98 per cent to Rs 432 on the BSE.

On the NSE, it soared 8 per cent to Rs 432.60.

The stock was the biggest gainer among blue-chips on both the key indices during the morning trade.

Shares of Tata Teleservices Maharashtra Ltd (TTML) zoomed 9.95 per cent to Rs 4.86 -- its highest trading permissible limit for the day -- on the BSE.

At the NSE, it jumped 9 per cent to Rs 4.80.

Bharti Airtel is set to take over Tata group's money- losing mobile business from November 1, saving the Tatas from the prospect of having to shut down the struggling unit.

Airtel, for whom it will be the seventh acquisition in five years, will acquire 4 crore customers of Tata
Teleservices Ltd (TTSL) and Tata Teleservices Maharashtra Ltd (TTML) in 19 telecom circles or zones on "a debt-free, cash-free basis", the two groups announced in separate but identical press statements on Thursday.

While all of the Rs 31,000 crore debt will remain with the Tatas, Airtel will assume payment of close to 20 per cent of the Rs 9,000-10,000 crore deferred payments for the spectrum to the government. The Tatas will pay the rest.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 909.90 -4.60 -0.50
Dewan Housing 594.35 -8.15 -1.35
GNFC 472.60 +28.85 +6.50
Axis Bank 460.30 -4.20 -0.90
Bharti Airtel 473.75 +11.80 +2.55
Company Price Change %Gain
GNFC 472.30 +28.60 +6.45
Reliance 910.35 -3.40 -0.37
Axis Bank 460.35 -4.00 -0.86
Dewan Housing 595.40 -6.40 -1.06
Aditya Birla 183.70 +3.35 +1.86
Top Gainers
Company Price Change %Gain
Bharti Airtel 473.75 +11.80 +2.55
UPL 793.70 +4.35 +0.55
M&M 1,375.75 +5.20 +0.38
Infosys 926.95 +2.60 +0.28
Lupin 1,051.20 +2.00 +0.19
Company Price Change %Gain
Bharti Airtel 471.05 +9.50 +2.06
Lupin 1,052.50 +3.60 +0.34
Infosys 927.10 +2.65 +0.29
M&M 1,374.80 +3.50 +0.26
BHEL 84.80 +0.10 +0.12
Top Losers
Company Price Change %Gain
ICICI Bank 257.85 -5.30 -2.01
NTPC 175.05 -3.00 -1.68
Kotak Mahindra 1,077.75 -18.15 -1.66
Coal India 285.80 -4.20 -1.45
Tata Motors 426.95 -6.25 -1.44
Company Price Change %Gain
ICICI Bank 257.85 -5.20 -1.98
Kotak Mahindra 1,079.35 -18.05 -1.64
NTPC 175.15 -2.85 -1.60
Tata Motors 427.25 -6.30 -1.45
Coal India 286.20 -4.00 -1.38

Live TV