Face of Nation : With Finance Minister Nirmala Sitharaman set to announce the budget in a short while, Bharti Airtel stocks fell by 0.1% to open at 362.75.
Bharti Airtel is the BSE group ‘A’ stock of face value Rs 5. The stock has lost around 3.5% in the last one year compared with a 12% rise in the Nifty 50 index.
It has touched a 52-week high of Rs 366.95 on 3 July 2019 and a 52-week low of Rs 254.29 on 22 October 2018. The promoters holding in the company stood at 67.14%, while Institutions and non-institutions held 30.86% and 2%, respectively.
Bharti Airtel and Bharti Hexacom have recently completed the merger of the consumer mobile businesses of Tata Teleservices (TTSL) and Tata Teleservices (Maharashtra) Ltd (TTML). This move spells better synergies and increased customer base for the country’s third-largest mobile service provider. The merger is effective from 1 July 2019.
The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order directed 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.
Bharti Airtel is India’s largest integrated and the first private telecom services provider with a footprint in all the 23 telecom circles.
