Bharti Infratel share price jumped over 4 percent in morning trade on September 3, rising over 8 percent in the last two days after the company got a go-ahead from the board for Indus Tower merger.
Bharti Infratel has informed the exchanges that its Board of Directors discussed, in a meeting held on August 31, the scheme of arrangement with Indus Towers and related agreements, and has decided to proceed with the merger.
“After deliberations the Board has authorised the chairman to proceed with the scheme and comply with other procedural requirements to complete the merger – including approaching the National Companies Law Tribunal (NCLT) to make the scheme effective subject to certain procedural condition precedents,” the company’s statement read.
The stock price has seen a steady rise in the last one month and was trading at Rs 205.60, up Rs 9.55, or 4.87 percent. It has touched an intraday high of Rs 206.95 and an intraday low of Rs 197.15.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has been efficient in using shareholders fund - Return on equity (ROE) improving since last 2 years.
Moneycontrol technical rating is bullish with moving averages and technical indicators being bullish.
Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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!
