Bharti Airtel surges 4% after Sandard and Poor's upgrades stock to 'BBB-'

Subscribe to GoodReturns

Bharti Airtel surges 4% after Sandard and Poor's upgrades stock to 'BBB-'
Shares of telecom operator Bharti Airtel jumped nearly 5 per cent in early trade on Bombay Stock Exchange (BSE) after Sandard and Poor's upgraded telecom major to 'BBB-' on account of reduced debt and an improved regulatory environment, reported PTI.

The agency said in a statement that "it had raised its long-term corporate credit rating on Bharti Airtel Ltd to 'BBB-' from 'BB+'. The outlook is stable."

Buoyed by development, shares of company gained as much as 4.61 per cent to trade at Rs 299.00 a piece on the BSE. In a similar fashion, shares of the company advanced 3.60 per cent to Rs 296.15 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 21,691.32, up 177.45 points or 0.82 per cent at 10:10 hours.

Dion Global Solutions Ltd.

Story first published: Friday, March 7, 2014, 12:28 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?