Airtel in December signed an agreement to sell 20 percent stake in Bharti Telemedia to private equity firm Warburg Pincus for about USD 350 million.
The market breadth was in favour of the advances on Friday morning with 876 stocks advancing as against 697 declines while 422 remained unchanged. On the other hand, 1102 stocks advanced and 851 stocks declined while 84 remained unchanged on the BSE.
The company's net profit stood at Rs 504 crore in the same period previous fiscal.
Analysts expect Bharti's India wireless revenue to decline 8 percent QoQ largely due to the 57 percent interconnect usage charge rate.
Merrill Lynch today offloaded shares worth Rs 1,931 crore in telecom operator Bharti Airtel, through an open market transaction.
Nomura has pegged revenue of Bharti Airtel at Rs 11,400 crore, down 7 percent QoQ and EBITDA at Rs 3,760 crore, down 11 percent QoQ.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Escorts, Indiabulls Housing and NCC while he advises holding SBI and selling Pincon Spirit and Mindtree.
The market breadth was in favour of the advances on Monday afternoon with 1065 stocks advancing as against 665 declines while 291 remained unchanged. On the other hand, 1801 stocks advanced and 1121 stocks declined while 116 remained unchanged on the BSE.
There are hopes that at some point in time Jio will rationalise its tariffs but if this continues, then they would have to revise their outlook back to negative, said Nitin Soni of Fitch Ratings.
The market breadth was in favour of the advances on Monday morning with 1161 stocks advancing as against 467 declines while 386 remained unchanged. On the other hand, 1633 stocks advanced and 676 stocks declined while 88 remained unchanged on the BSE.
The competition forced market consolidation as nervous, smaller players bailed out and biggies joined hands to cement their position. Consolidation led to fewer players and fewer jobs.
In October this year, the takeover of Tata Group's consumer mobile business by Airtel on a 'no-debt, no-cash basis' was announced by the two firms.
The company had posted a loss of Rs 452.82 crore in the same period a year ago.
"Bharti Airtel Limited...has entered into a definitive agreement with Millicom International Cellular S.A. (Millicom) under which Airtel Rwanda Limited will acquire 100 per cent equity interest in Tigo Rwanda Limited," Bharti Airtel said in a statement.
UIDAI may consider revocation of suspension or decide further necessary action upon receipt of the report.
Airtel VoLTE works over 4G services that will enable customers across the city to enjoy HD quality voice calls with faster call set up time, a company statement said here today. Customers can call any mobile, landline network using Airtel VoLTE and would not be charged for additional data for VoLTE. Calls would be billed as per the existing plan, it added.
"Customers in 130 towns and villages, including Kargil, Leh, and Dras, will now be able to enjoy affordable high speed data services and get on to the digital superhighway," an Airtel statement said.
Edelweiss is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 625 in its research report dated December 11 2017.
Udayan Mukherjee, Consulting Editor, CNBC-TV18 says there is growing conviction that levels of 10000-10100 will act as solid support and market may have formed a higher bottom.
Going forward, 10,000-9,985 zone will act as a near-term support and any decisive closing below this level will trigger further pessimism.
Two other smartphones - Aqua A4 and Aqua S3 - will also be available at effective prices of Rs 1,999 and Rs 4,379, respectively as part of the partnership.
The investment is in line with its endeavour to build an open content ecosystem and bring world-class digital content to its customers, the company said in a statement.
"Customers can call any mobile, landline network using Airtel VoLTE. There will be no additional data charges for VoLTE and calls will be billed as per existing plan or pack benefits," the company said in a statement.
The Unique Identification Authority of India (UIDAI) has ordered a probe against Bharti Airtel for alleged violation of the Aadhaar Act, following the government's direction to link Aadaar to mobile numbers.
"Our request was that the OTT players in the telecom arena should have the same rules of the game. I don't know what are the recommendations on that. I believe, probably, the TRAI will come up with another consultation on the OTT side. We will see how they develop...," he told television channel ET Now on the sidelines of the Global Entrepreneurship Summit (GES) here.