Meanwhile, the BSE Sensex was up 131.65 points, or 0.68%, to 19,541.34.
On BSE, 86,000 shares were traded in the counter as against an average daily volume of 4.46 lakh shares in the past one quarter.
The stock hit a high of Rs 321 and a low of Rs 317 so far during the day. The stock had hit a 52-week high of Rs 400.90 on 3 February 2012. The stock had hit a 52-week low of Rs 238.50 on 30 August 2012.
The stock had outperformed the market over the past one month till 10 December 2012, rising 15.44% compared with the Sensex's 3.89% rise. The scrip had also outperformed the market in past one quarter, gaining 22.02% as against Sensex's 9.25% rise.
India's largest listed telecom operator by sales has an equity capital of Rs 1898.76 crore. Face value per share is Rs 5.
The initial public offer (IPO) of Bharti Infratel, a subsidiary of Bharti Airtel, opened for subscription today, 11 December 2012. The price band for the IPO has been fixed at between Rs 210 to Rs 240 per share. The IPO is a combination of fresh issue of 14.62 crore equity shares and an offer for sale of 4.26 crore equity share by some existing shareholders. Bharti Airtel itself is not selling any shares in the IPO. The IPO closes on Friday, 14 December 2012.
The board of Bharti Infratel on Monday, 10 December 2012, finalised allocation of 2.83 crore equity shares to a total of 34 anchor investors at Rs 230 per share.
Bharti Infratel's main business is to acquire, build, own and operate towers and related infrastructure and to provide access of its towers to wireless telecommunications service providers on a shared basis under long-term contracts.
Bharti Airtel holds 86.1% stake in Bharti Infratel. Post IPO, Bharti Airtel's stake will come down to 79%. Bharti Airtel is not offloading any stake through the current offer for sale.
Bharti Airtel's consolidated net profit, as per International Accounting Standards (IFRS), declined 29.8% to Rs 721 crore on 17.4% growth in revenue to Rs 20273 crore in Q2 September 2012 over Q2 September 2011.
Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 4 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce. Bharti Airtel had over 262 million customers across its operations at the end of September 2012.
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India Infoline Research Team / 08:59, Sep 02, 2014
The indices are expect to open on a positive note. Some profit booking could always set in later in the day.