Bharti Infratel Share Price Live: Bharti Infratel Shares Rise by 0.99% as Finance Minister Announces Union Budget 2019
Union Budget 2019: The Bharti Infratel stock has lost almost 11% in the last one year compared with a 12% rise in the benchmark Nifty 50 index.
Image for representation (Image: Reuters)
Bharti Infratel Share price opened at 263.20 and closed at 265.70. With Union budget 2019 being presented, the shares increased by 0.99%.
Bharti Infratel recently received approval from the National Company Law Tribunal (NCLT) for the planned merger with Indus Towers. The proposed merger, which will create a mega tower company in India, will also require approval from the Telecom Department.
The mega tower company born from the merger will have an estimated 1.63 lakh towers in 22 telecom service areas in the country. The company now hopes to complete the merger process within in the next few months.
Bharti Infratel is a provider of tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various mobile operators. The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 338 on 25 April 2018 and a 52-week low of Rs 241.80 on 4 October 2018.
The Bharti Infratel stock has lost almost 11% in the last one year compared with a 12% rise in the benchmark Nifty 50 index. The promoters holding in the company stood at 53.51%, while Institutions and Non-Institutions held 45.48% and 1%, respectively.
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