CapitalMarket.com - Bharti Airtel bucks trend on bargain hunting
Hot Pursuit Wednesday, April 25, 2012 13:59 Hrs IST

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Bharti Airtel bucks trend on bargain hunting

Bharti Airtel rose 1.78% at Rs 311.80 at 13:57 IST on BSE on bargain hunting after the stock fell 5.49% in the preceding two sessions to Rs 306.35 on 24 April 2012 from a recent high of Rs 324.15 on 20 April 2012.

Meanwhile, the BSE Sensex was down 78.67 points, or 0.46%, to 17,128.62.

On BSE, 3.10 lakh shares were traded in the counter as against an average daily volume of 5.08 lakh shares in the past one quarter.

The stock hit a high of Rs 315.35 and a low of Rs 305.15 so far during the day. The stock had hit a 52-week low of Rs 289.05 on Tuesday, 24 April 2012. The stock had hit a 52-week high of Rs 444.70 on 1 August 2011.

The stock had underperformed the market over the past one month until 24 April 2012, falling 8.74% compared with the Sensex's 0.89% decline. The scrip had also underperformed the market in past one quarter, falling 13.89% as against 1.24% rise in the Sensex.

India's largest listed telecom operator by sales has an equity capital of Rs 1898.76 crore. Face value per share is Rs 5.

Bharti Airtel's consolidated net profit as per International Financial Reporting Standards (IFRS) fell 22.40% to Rs 1011.30 crore on 17.15% increase in net sales to Rs 18476.70 crore in Q3 December 2011 over Q3 December 2010. The company will announce its financial year ended March 2012 results on 2 May 2012.

Bharti Airtel is a leading integrated telecommunications company with operations in 19 countries a across Asia and Africa. In India, the company's product offerings include 2G & 3G mobile services, fixed line, high speed broadband through DSL, IPTV, DTH, enterprise services including national & & international long distance services to carriers. In the rest of the geographies, it offers 2G & 3G mobile services.

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