Govt approves up to 100% FDI limit in Bharti Airtel; stock gains 1%

Govt approves up to 100% FDI limit in Bharti Airtel; stock gains 1%

Bharti Airtel Limited has received the approval from the Department of Telecommunications (DoT) for increasing the limit of foreign investment up to 100% of the paid-up capital of the company.

The aforesaid approval, along with the RBI approval dated July 03, 2014, granted to the company allows the FPls/Flls to invest up to 74% of the paid-up capital of the company, the company said in the press note.

Stock view:

Bharti Airtel Ltd is currently trading at Rs513.20, up by Rs1.85 or 0.36% from its previous closing of Rs511.35 on the BSE.

The scrip opened at Rs515 and has touched a high and low of Rs524 and Rs512.20 respectively.

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