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22-Jan2019

Bharti Airtel inches up as NCLT approves merger of Tata Teleservices with Bharti Airtel

Bharti Airtel is currently trading at Rs. 310.60, up by 0.15 points or 0.05% from its previous closing of Rs. 310.45 on the BSE.

The scrip opened at Rs. 312.70 and has touched a high and low of Rs. 312.70 and Rs. 309.00 respectively. So far 36718 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 498.45 on 23-Jan-2018 and a 52 week low of Rs. 277.00 on 22-Oct-2018.

Last one week high and low of the scrip stood at Rs. 345.00 and Rs. 305.10 respectively. The current market cap of the company is Rs. 124359.12 crore.

The promoters holding in the company stood at 67.14%, while Institutions and Non-Institutions held 31.03% and 1.83% respectively.

The National Company Law Tribunal (NCLT) has approved merger of Tata Teleservices with Bharti Airtel. The merger is subject to the approval of the Department of Telecommunications (DoT).

Tata Teleservices and Bharti Airtel had announced the merger in October 2017. The deal is on a no-debt, no-cash basis, implying Airtel is not taking over any of the about Rs 40,000 crore debt of Tata Teleservices and is neither paying any cash. As part of the agreement, Bharti Airtel will absorb Tata consumer mobile business operations in 19 telecom circles (17 under Tata Teleservices and 2 under Tata Teleservices (Maharashtra).

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


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