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Bharti Infratel shines on settling tower exits with four operators for Rs 3,800 crore

Date: 25-01-2019

Bharti Infratel is currently trading at Rs. 271.80, up by 8.40 points or 3.19% from its previous closing of Rs. 263.40 on the BSE.

The scrip opened at Rs. 263.50 and has touched a high and low of Rs. 272.00 and Rs. 263.50 respectively. So far 28608 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 355.50 on 29-Jan-2018 and a 52 week low of Rs. 241.80 on 04-Oct-2018.

Last one week high and low of the scrip stood at Rs. 284.20 and Rs. 261.80 respectively. The current market cap of the company is Rs. 48718.68 crore.

The promoters holding in the company stood at 53.51%, while Institutions and Non-Institutions held 45.39% and 1.10% respectively.

Bharti Infratel has made a settlement with four operators, including Vodafone Idea that exited from its cell sites before the expiry of their contracts at a payment of around Rs 3,800 crore. The payments include one-time charge of Rs 2,000 crore and rental of around Rs 1,800 crore.

Bharti Infratel is a provider of tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various mobile operators.