Tag: Bharti Infratel

Indus Towers posts Rs 1,360 cr profit in Q3

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The country’s largest mobile tower company Indus Towers on Thursday posted a consolidated profit of Rs 1,360 crore for the third quarter ended December 2020.

Indus Towers, formerly Bharti Infratel, had reported a profit after tax of Rs 1,331 crore in the same period a year ago. Indus Towers merged with Bharti Infratel Limited on November 19, hence the financial performance of the company is not comparable with the past period, it added.

Consolidated revenues for the quarter stood at Rs 6,736 crore. The company had clocked a revenue of Rs 6,443 crore in the corresponding period of 2019-20. ”This was a milestone quarter for the Company with the completion of merger between Bharti Infratel Limited and erstwhile Indus Towers.

”Operationally, we have witnessed strong network rollouts across the country and the Company has reported its highest ever net tower additions in a quarter,” Indus Towers Managing Director and CEO Bimal Dayal said in a statement. The total mobile tower base of the company at the end of the reported quarter stood at 1,75,510.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Look at banks, NBFCs with fewer asset qualities: Ambit Capital

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Nitin Bhasin, MD & Head-Equities Research of Ambit Capital in conversation with CNBC-TV18 said that he is overweight on IT, pharma, metals, and select financials.

“For last six-seven months the kind of portfolio approach we had put out was investors should be over-weight on IT stocks in India, pharma stocks in India and select exporters like chemicals and even for that matter metals,” says Bhasin.

“Alongside start looking at the banks or the NBFCs where there are less asset quality issues or valuations relatively more favourable, so that has been our portfolio approach,” he said.

Bhasin said, “One should start even looking at adding or owing names like Bharti Infratel and also relatively less expensive names like OMCs right now, hence those would dominate a portfolio.”

“The portfolio risk management in terms of what sort of an expensive names you own have to be actually start looking at in terms of growth expectation. So hence I would still maintain that metals one should remain overweight for the next 6-12 months, remain overweight on pharma and the other sectors that I mentioned.”

On metals he said, “The preference order would be Tata Steel followed by Hindalco Industries should be the ones which people should be overweight on and we maintain that.”

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel buying stake in Bharti Infratel may be a bet on long-term story, says SBICAP Securities

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Rajiv Sharma, head of research of SBICAP Securities on Wednesday said Bharti Airtel buying stake in Bharti Infratel may be a bet on long-term story.

Earlier today Bharti Airtel had purchased a 4.9 percent stake in Bharti Infratel, the group’s tower infrastructure arm.

The purchase was carried out via block deals and are within norms for creeping acquisition — which limit promoter purchases at 5 percent of equity in a year.

He said, “Bharti Airtel is definitely trying to set a reference value, a downside support in terms of share price of Bharti Infratel.”

“Irrespective of what happens to telecom market structure, 5G will need a lot of telecom infrastructure. So maybe Airtel is taking a bet on the longer-term story as well. At the same time, Bharti is a stellar in the tower company. Airtel has suggested in the past the company would like to bring down their stake and improve their own balancesheet,” Sharma said.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Airtel buys 4.9% stake in Bharti Infratel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bharti Airtel has purchased a 4.9 percent stake in Bharti Infratel, the group’s tower infrastructure arm, sources said.

The purchase was carried out via block deals and are within norms for creeping acquisition — which limit promoter purchases at 5 percent of equity in a year.

Sources told CNBC-TV18 that Providence, Edge Point and FIIs likely sold 14.7 crore shares at Rs 216-224 per share. They added that Vodafone Idea and PE firm KKR, which also hold stake in the company, were not among the sellers.

Bharti Infratel shares were up above 3 percent in trade today while Bharti Airtel was up 0.5 percent.

Bharti Airtel was unavailable for comment.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharti Infratel shares jump over 13% on completion of merger with Indus Towers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The share price of Bharti Infratel surged over 13 percent on Friday after it completed its merger with Indus Towers. It rose as much as 13.6 percent to its day’s high of Rs 210.85 per share on the BSE.

“Merger of Indus Towers Limited & Bharti Infratel Limited has been completed today. The combined entity, to be renamed as Indus Towers Limited, is listed on the National Stock Exchange of India Limited & BSE Limited,” Bharti Airtel said in a filing.

After the merger, Bharti Airtel’s stake in the firm will be over 36.7 percent from 53.5 percent earlier whereas Vodafone will hold a 28 percent stake after selling its 11 percent stake.

Vodafone Idea also jumped over 4 percent after the telecom company received Rs 3,760.1 crore cash consideration for its 11.15 percent holding in Indus.

Bharti Infratel also informed bourses, “The Board has allotted 757.8 million equity shares of Rs 10 each to the Vodafone group and 87.51 equity shares of Rs 10 each to PS Asia Holding Investments (Mauritius) Limited (Providence) aggregating to 28.12 percent and 3.25 percent, respectively in the post-issue share capital of the company.”

“In accordance with the terms of the agreement and out of the consideration received from Bharti Infratel, the company has made a prepayment of Rs 2400 crore which will be adjusted in line with terms of the agreement,” Vodafone Idea said.

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3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow