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Bharti gains on deal talks

March 22, 2010

MTN-BHARTI/FUNDING

Bharti Airtel rose on Monday morning on hopes that the firm is heading towards a smooth landing in its $9 billion deal talks to buy Kuwaiti telecom Zain’s African operations.

Bharti Airtel rose over 2 percent in intra-day trade and finally closed 1.4 percent higher at 316 rupees with volumes of 1.07 million shares.

The share was the second-worst performer in the 30-stock BSE index in 2009 and was among the only two stocks to have given negative returns even as the benchmark jumped 81 percent.

The counter has given a negative return of over 3 percent so far in this year. Do you see a buying opportunity here?

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