Bharti surges 4% on bourses; adds Rs 5,638 cr to M-cap
Shares of Bharti Airtel on Thursday surged by over 4 per cent on the Bombay Stock Exchange, adding Rs 5,638 crore to its market valuations.
By PTI | Updated:
MUMBAI: Shares of Bharti Airtel on Thursday surged by over 4 per cent on the Bombay Stock Exchange, adding Rs 5,638 crore to its market valuations after it unveiled a major restructuring of India and South Asia operations.
At close, the stock was quoted at Rs 398.05, up 3.88 per cent from its last close. The stock had opened on a positive note and it gained further ground to witness an intra-day high of Rs 399.
The market capitalisation of the company at close was at Rs 1,51,160 crore against Rs 1,45,522 crore yesterday.
Similar trend was witnessed on the National Stock Exchange, where the scrip after opening at Rs 383.55, gained further ground and saw an intra-day high of Rs 398.90 and finally settled at Rs 397.70, up 3.73 per cent from its previous closing price.
The company unveiled major restructuring of its India and South Asia operations, combining various segments, including mobile and digital TV into two separate business units to improve efficiency.
The transformed organisation structure will have two distinct Customer Business Units (CBU) with clear focus on B2C (Business to Customer) and B2B (Business to Business) segments, Bharti Airtel said in a statement.
The rejig which will come into effect from August 1 would see Bharti Airtel's mobile, telemedia, digital TV and other emerging businesses -- such as M-commerce, M-health and M-advertising -- into B2C (Business to Customer) division.
At close, the stock was quoted at Rs 398.05, up 3.88 per cent from its last close. The stock had opened on a positive note and it gained further ground to witness an intra-day high of Rs 399.
The market capitalisation of the company at close was at Rs 1,51,160 crore against Rs 1,45,522 crore yesterday.
Similar trend was witnessed on the National Stock Exchange, where the scrip after opening at Rs 383.55, gained further ground and saw an intra-day high of Rs 398.90 and finally settled at Rs 397.70, up 3.73 per cent from its previous closing price.
The company unveiled major restructuring of its India and South Asia operations, combining various segments, including mobile and digital TV into two separate business units to improve efficiency.
The transformed organisation structure will have two distinct Customer Business Units (CBU) with clear focus on B2C (Business to Customer) and B2B (Business to Business) segments, Bharti Airtel said in a statement.
ADVERTISEMENT
The rejig which will come into effect from August 1 would see Bharti Airtel's mobile, telemedia, digital TV and other emerging businesses -- such as M-commerce, M-health and M-advertising -- into B2C (Business to Customer) division.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
