Bharti Airtel shares zoom over 6%

January 13, 2021 12:53 pm | Updated 12:53 pm IST - New Delhi

An Airtel board outside a shop in Kolkata. File

An Airtel board outside a shop in Kolkata. File

Shares of Bharti Airtel on Wednesday zoomed over 6% after the company said it has received approvals for relevant downstream investments post FDI nod from the Department of Telecommunications.

Bharti Airtel further said it is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100% with immediate effect.

The stock jumped 6.37% to ₹ 601.80 on the BSE.

At the NSE, it gained 6.35% to ₹ 601.70.

"Further to our intimation dated January 21, 2020, we wish to inform you that in compliance with the FDI approval dated January 20, 2020, granted to the company by the Department of Telecommunications, the company has received approvals for its relevant downstream investments.

"Accordingly, the company is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100% with immediate effect," Bharti Airtel said in a regulatory filing on Tuesday.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.