Rs 8,301.73-Cr Block Deal: Bharti Airtel Shares Hit 4th Consecutive 52-Week High

Bharti Airtel Ltd shares hit fourth consecutive 52-week high in trade on Friday. Current market price of Bharti Airtel share on BSE is Rs 1016.45 apiece with intraday gain of 0.19%. Bharti Airtel shares gained over 4% in last 1-week and soared nearly 7% in last 2-weeks. The reason behind the rally in shares of Bharti Airtel can be attributed to a block deal.

According to a BSE filing that Bharti Airtel Ltd shared on December 1, "In furtherance to our announcement dt. August 25, 2022 titled Acquisition of further stake in Bharti Airtel Limited, we wish to intimate that:

Bharti Telecom Limited (BTL/ the Company) has acquired ~1.35% shares of Bharti Airtel Limited from Indian Continent Investment Limited (ICIL) through block deal mechanism on National Stock Exchange of India Limited for an aggregate amount of INR 8,301.73 Crores."

The revised shareholding of BTL and ICIL in Airtel is as follows:
Bharti Telecom Limited: Number of shares include 2,381,025,975 with 39.59% shareholding pattern
Indian Continent Investment Limited: Number of shares include 274,442,244 with 4.56% shareholding pattern.
ICIL is a person acting in concert with BTL and is part of the promoter group of Airtel."

Bharti Airtel Stock Performance & Return: The stock's 52-week high price is Rs 1022.10 per share and 52-week low price is Rs 736.20 per share, respectively. The company has a market capitalisation of Rs 5,69, 904.84 crore. Bharti Airtel shares gained 17% in last 3-months, soared 25% year-to-date, and offered return of 20% in last 1-year. Bharti Airtel shares surged 40% in last 2-years and gave return of 115% in last 3-years. In last 5-years, Bharti Airtel stock gave shareholders return of 258%.

Bharti Airtel About: Bharti Airtel Limited is a leading telecommunication company globally. Headquartered in New Delhi, It is a leading provider of ICT services with a global network across the USA, Europe, Africa, Middle East, Asia-Pacific, India, and SAARC regions. Airtel Telecommunications ranks amongst the top 3 mobile service providers around the world (as per subscribers), according to its official website.