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Bharti Airtel rises on completing merger of Tata Tele's consumer mobile businesses

02 Jul 2019

Bharti Airtel is currently trading at Rs. 349.90, up by 1.40 points or 0.40% from its previous closing of Rs. 348.50 on the BSE.

The scrip opened at Rs. 348.00 and has touched a high and low of Rs. 350.05 and Rs. 347.65 respectively. So far 15575 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 366.20 on 11-Jun-2019 and a 52 week low of Rs. 254.29 on 22-Oct-2018.

Last one week high and low of the scrip stood at Rs. 352.00 and Rs. 340.80 respectively. The current market cap of the company is Rs. 178943.31 crore.

The promoters holding in the company stood at 67.14%, while Institutions and Non-Institutions held 30.86% and 2.00% respectively.

Bharti Airtel and Bharti Hexacom have completed the merger of the consumer mobile businesses (CMB) of Tata Teleservices (TTSL) and Tata Teleservices (Maharashtra) (TTML). This move spells better synergies and increased customer base for the country’s third-largest mobile service provider. The merger is effective from July 1, 2019.

Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order directing the Department of Telecommunications (DoT) to take on record the merger and the schemes of arrangement by the National Company Law Tribunal (NCLT), Delhi and NCLT, Mumbai. Moreover all customers, assets, spectrum and agreed liabilities of the Consumer Mobile Businesses of TTSL and TTML now stand merged with Airtel.

Related Bharti Airtel Ltd. Links:

Bharti Airtel Share Price

540.90 -4.15 (-0.76%) Jun 11, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323