The Hindu Business Line : Bharti Airtel: Close watch

The Bharti Airtel stock is being tracked closely for what a section of the market feels are purely fundamental reasons. The latter - a clutch of them that are being increasingly cited by investors - include the Bharti Group's move towards strategic investments in financial services, organised retail and agri-business. More specifically, its recent tie-ups with Axa and Wal-Mart are being critically referred to by analysts.

Sources also take note of the heavy institutional holding in Bharti Airtel; foreign institutions held over 25 per cent in the company at the end of the previous quarter. The Rs 10-face value stock, which had climbed to Rs 680 during the last 52 weeks when the market had peaked some time ago, today ended higher, riding the day's advancing trend. On Thursday, it closed 2 per cent higher on the NSE at Rs 610.40.

Nilanjan Dey

More Stories on : Stock Markets | Stocks | Ear to the ground | Bharti Tele-Ventures Ltd

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