Bharti Airtel, a leading integrated telecommunications company, jumped after the company has acquired 115.0 MHz spectrum for a total consideration of Rs 185.3 billion in the just concluded spectrum auction conducted by the Government of India.
Bharti Airtel will make an upfront payment of Rs 54.25 billion, with the balance to be paid in ten annual installments of Rs 13.1 billion each, commencing two years from now.
Shares of the company are trading at Rs 316.00, up Rs 13.4, or 4.43% at the Bombay Stock Exchange (BSE) on Friday at 9:34 a.m.
The scrip has touched an intra-day high of Rs 317.20 and low of Rs 302.60. The total volume of shares traded at the BSE is 76,016.
In the earlier session, the shares lost 1.8%, or Rs 5.55, at Rs 302.60.
Currently, the stock is trading down 15.39% from its 52-week high of Rs 373.50 and above 18.37% over the 52-week low of Rs 266.95.