InvestorQ : What triggered the sharp rally in the shares of Bharti Infratel in the last few days?
prachi Patwardhan made post

What triggered the sharp rally in the shares of Bharti Infratel in the last few days?

Answer
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5 months ago


Bharti Infratel hit 3-month high of Rs.243 on Friday in an otherwise weak market after media reports hinted that Google could buy a 5% stake in Vodafone Idea. The Vodafone Idea is among the key clients of Bharti Infratel. The stock has already zoomed 100% since touching its 52-week low in mid-March. Bharti Infratel owns and manages telecom towers and communication structures for various mobile operators. It has a portfolio of over 95,000 telecom towers including 42,000 of its own towers and the balance from its 42% equity interest in Indus Towers. Bharti Infratel’s 3 largest customers are Bharti Airtel, Vodafone Idea and Reliance Jio Infocomm, literally straddling the entire Indian telecom market. During the previous fiscal, Bharti Infratel saw increase in gross additions both on towers and co-locations.