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Market Movers: What led to buying in Airtel, BPCL; auto stocks in huge demand
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As many as 325 stocks hit their 52-week highs on Tuesday. Adani Ports, BPCL, Grasim Industries, Motherson Sumi, NMDC, NTPC, Tata Motors, Tata Power and Vedanta were among the top names.
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BPCL sold Numaligarh refinery for Rs 9,876 crore. The sale clears the way for privatisation of India s second-largest fuel retailer. Shares of the company rose over 3 per cent to Rs 469 after the board approved the sale.
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NEW DELHI: Positive global cues and encouraging data from Indian companies kept buying in Dalal Street intact for the second day on Tuesday. Auto and IT sectors were among the most vibrant.
Bharti Airtel to buy out Warburg in DTH arm
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Warburg arm to get ₹3,126 cr. for 20%
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Bharti Airtel on Wednesday said it will acquire 20% stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about ₹3,126 crore.
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Warburg arm to get ₹3,126 cr. for 20%
Bharti Airtel on Wednesday said it would acquire 20% stake in Bharti Telemedia, its DTH arm, from an affiliate of Warburg Pincus for ₹3,126 crore. The amount will be discharged via issuance of about 36.47 million equity shares of Bharti Airtel at a price of ₹600 per share and up to ₹1,037.80 crore in cash, the company said in a statement.