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Bharti Infratel IPO: What brokerages are saying

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(Any opinions expressed here are those of the author, and not necessarily those of Thomson Reuters)

Bharti Infratel’s initial share sale will likely be India’s biggest in nearly two years and key for the country’s troubled telecom sector, which has been hit by regulatory flip-flops.

Price Band: 210 – 240 rupees/share

Issue opens, closes: Dec 11 – Dec 14

The share sale of the telecommunications tower unit of top Indian phone carrier Bharti Airtel Ltd will raise $825 million in the upper end of the price range. The sale comes amidst signs of a revival in the primary market with other smaller private offerings like CARE Ratings, PC Jewellers and Tara Jewels in the process of raising or having recently raised capital.

The sale will also be a test of bigger offerings as the government aims to raise roughly $1.2 billion by selling shares in miner NMDC Ltd, sources told Reuters.

Bharti Airtel rises after Zain deal

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Shares in Bharti Airtel rose over 6 percent in trade after the telecoms major closed its $9 billion acquisition of Zain’s Africa operations.

Bharti Airtel, which is now the world’s fifth-biggest mobile carrier by subscriber base following the deal, ended 5.5 percent higher in a broader market that saw a marginal rise of 0.2 percent.

Bharti Airtel shines in weak market

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Shares in Bharti Airtel, India’s top mobile operator, gained 2.6 percent on Wednesday and ended the top gainer among Sensex components, even as the benchmark closed weak near its 2-month low.

Its shares had declined 2.9 percent over the two earlier sessions.

Rival firm Reliance Communications’ shares however ended weak after losing 1.05 percent. Idea Cellular closed marginally in red.

Bharti Airtel rises

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ZAIN-BHATRI

Shares of Bharti Airtel closed 0.3 percent up on Wednesday in a broader market that ended 0.4 percent higher.

The telecom major hit an intra-day high of over 2 percent before closing.
Bharti Airtel needs to work on getting regulatory clearances for its $9 billion deal to buy 15 African operations of Kuwaiti telecom Zain, and turning around the loss-making assets would be its priority.

Bharti gains on deal talks

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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.

Bad year for telecom counters

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TELECOMS INDIA INVESTMENT

Telecom stocks had a bad year with top counters such as Bharti Airtel and Reliance Communication slipping 8 and 23 percent respectively in 2009.

The overall market however gained as much as 80 percent during the year.

The Sensex ended 81 percent higher at 17465 and gained more than 7,000 points, its biggest yearly gain since 1991.

Telecom shares dives in flat market

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Shares of major telecom players plunged on Thursday, pulling the BSE Technology Index down 2.8 percent.

Bharti Airtel, which has a 3.6 percent weightage on the Sensex, dropped over 6 percent in a market that ended marginally up at 16,843. Trade in the counter stood at 8.1 million shares.INDIA-STOCKS/JUMP

Bad day at the bourses for Bharti Airtel

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A traffic policeman directs traffic under an advertisement of Bharti Airtel at a booth in Siliguri October 2, 2009. REUTERS/Rupak De Chowdhuri Shares of Bharti Airtel, India’s top mobile operator, slipped 8 percent on Monday and ended as the top Sensex loser.

Bharti shares closed down rupees 34.85 at 400.25 with volumes of over 6 million on the BSE, making it one of the most traded counters.

Bharti gains after deal collapse

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Shares in Bharti Airtel ended 4 percent higher in a broader market which ended flat.

Bharti Airtel, which carries over 4 percent weightage in the 30-share sensitive index, closed at 435 rupees with volumes of 6.8 million.

Will you buy Bharti Airtel shares?

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Children play near a Bharti Airtel billboard outside a railway station in Chandigarh May 26, 2009Shares in Bharti Airtel gained 2.8 percent on Friday, contributing well to the benchmark’s gain of over 200 points on the last trading day of the week.

The company is in exclusive talks for a stake in South Africa’s MTN, a deal which will create the world’s No. 3 mobile firm. On Thursday, the two firms said they were extending talks till Sept. 30, their second such extension this year.

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