Bharti Infratel rebounds on addition in FTSE largecap index
Telecom tower infrastructure services provider Bharti Infratel that disappointed investors on listing day has bounced back on Monday after the news that the stock would be added to FTSE Large Cap Index with effect from January 7, 2013.
December 31, 2012 / 14:00 IST
Telecom tower infrastructure services provider Bharti Infratel that disappointed investors on listing day has bounced back on Monday after the news that the stock would be added to FTSE Large Cap Index with effect from January 7, 2013.
According to the FTSE, Bharti Infratel will be added to the Large Cap index with shares in issue total of 1,888,642,842 and an investability weighting of 9 percent.The stock will also be added to FTSE All-Emerging Index, says FTSE on its website.At 12:32 hours IST, the share price rose 1.41 percent to Rs 193.90 on the Bombay Stock Exchange. The stock fell as much as 3.3 percent in early trade to hit a low of Rs 184.90 before bouncing back around 10 O'clock.Country's largest telecom operator Bharti Airtel's subsidiary had fallen 13 percent to close at Rs 191.20 on listing day itself (Friday) due to weak response from high networth individuals and retail investors to the issue. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
