LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Airtel rises on Singtel investment; shares up nearly 2% on BSE Sensex

Asian telecommunications operator, Singtel will be investing Rs 2,649 crore in Airtel and increasing its total stake in the Indian operator. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Airtel rises on Singtel investment; shares up nearly 2% on BSE Sensex
Representational image. Image Source: Airtel/ Youtube
Written By: ZeeBiz WebTeam
Updated: Mon, Feb 05, 2018
10:01 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1 Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1
You may have to pay more for talking over phone, data tariffs from THIS date You may have to pay more for talking over phone, data tariffs from THIS date
Airtel 6GB free data coupons: Check new offer for these Airtel prepaid customers | All details here Airtel 6GB free data coupons: Check new offer for these Airtel prepaid customers | All details here
Telcos want govt to clarify onus of security breach post NSD rollout, ensure price competitiveness Telcos want govt to clarify onus of security breach post NSD rollout, ensure price competitiveness
Approvals received for relevant downstream investments post FDI nod from DoT: Airtel Approvals received for relevant downstream investments post FDI nod from DoT: Airtel

Shortly after announcing investment flow by a leading communications provider, shares of Bharti Airtel cheered on BSE Sensex during the early trade session on Monday. Shares of the company rose over 1% on BSE Sensex.

At 0942 hours, Airtel shares were up 6.15 points or 1.46% to trade at Rs 427.95 apiece on BSE Sensex.

The company, on Monday, announced that Singapore Telecommunications Limited or otherwise known as Singtel will invest Rs 2649 crore in Bharti Telecom Limited.

Singtel has been one of Airtel’s long term partner and with this investment, Singtel’s total stake (along with its affiliates) in Bharti Telecom will increase to 48.90%. “Singtel currently holds 47.17% stake in Bharti Telecom. Bharti Enterprises continues to hold over 50% stake in Bharti Telecom.”

“The fresh round of investment highlights the confidence of Singtel in Airtel, and the increased attractiveness of the Indian telecoms sector following the recent consolidation. The investment comes within 23 months of Singtel's participation in Bharti Telecom’s Right Issue of Rs. 2500 Crores, which was completed in February 2016,” the company said.

Deven Khanna, Managing Director, Bharti Telecom, said, “Airtel shares a nearly two decade-long relationship with Singtel, which has only become stronger over the years. The fresh round of investment highlights the confidence of Singtel in Airtel, and the increased attractiveness of the Indian telecoms sector following the recent consolidation.”

Bharti Airtel is India’s largest telecom provider with over 28 crore subscribers. The operator has been in a constant state of battle with newcomer Reliance Jio over price wars.

Recently, the company had promised a whopping Rs 25,000 crore investment in capital expenditure in FY18.

“To accelerate our 4G roll out in terms of coverage and also build additional capacities in existing geographies..our capex forecast for the year is being upped from initial guidance of Rs 20,000 crore to Rs 25,000 crore," Bharti Airtel Chief Financial Officer Nilanjan Roy said in November 2017.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
AirtelAirtel share pricesSingTelSingapore TelecommunicationsTelecom
RELATED NEWS
Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1 Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1
You may have to pay more for talking over phone, data tariffs from THIS date You may have to pay more for talking over phone, data tariffs from THIS date
Airtel 6GB free data coupons: Check new offer for these Airtel prepaid customers | All details here Airtel 6GB free data coupons: Check new offer for these Airtel prepaid customers | All details here
Telcos want govt to clarify onus of security breach post NSD rollout, ensure price competitiveness Telcos want govt to clarify onus of security breach post NSD rollout, ensure price competitiveness
Approvals received for relevant downstream investments post FDI nod from DoT: Airtel Approvals received for relevant downstream investments post FDI nod from DoT: Airtel

LATEST NEWS

PPF Calculator: You can double Public Provident Fund income and save income tax outgo - you will need this help

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range, says investors should trade keeping volatility in mind

Airbag for front-seat passenger made mandatory from THIS date

ITC Share Price: Experts give 'share to buy' tag; predicts up to 25% profit in three months

Gold Price Outlook: Yellow metal falls by over Rs 11,500 in last six months; may crash much more

EPF Passbook Balance Check Online: EPFO members can do this via Umang App, SMS, missed call; choose whatever you want

DDA Housing Scheme 2021: Draw for allotment of flats on this DATE—Watch it live on AWAAS app

Gold Price Outlook – Gold, Silver prices may see further fall next week; expert tells what to do to maximise gains

7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021?

Indian economy outlook 2021: This is why FY 2021 GDP performance will be better than projection—Finance Ministry EXPLAINS

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved