Thursday, 23 February 2017

Bharti Airtel stock surge, global cues lift equities

Positive global cues, coupled with healthy buying following a major announcement by a telecom major, lifted the Indian equities markets during the mid-afternoon trade session on Thursday. The key indices traded with substantial gains of around half a percent each, as healthy buying was witnessed in IT, capital goods and consumer durables stocks.

Following the announcement of India's largest telecom service provider Bharti Airtel that it has inked a definitive agreement to acquire Telenor India, the company's scrip on the BSE gained 2.99 per cent or Rs 10.80 to Rs 371.95 per equity share (at 1.40 p.m.) during the mid-afternoon trade session from its previous close of Rs 361.15. The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 41.00 points or 0.46 per cent to 8,967.90 points.

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