Bharti Airtel surges as company mulls share buyback

Shares of Bharti Airtel, the country’s largest telecom operator in terms of subscribers, surged over 3 per cent in Monday’s trade. The company, in a filing to the bourses, said it might consider a final dividend, or a share buyback or both, at its shareholders’ meeting on April 27.

Reacting to the development, the stock climbed 3.01 per cent to hit a high of Rs 363.85 on the BSE. The stock has gained up to 6 per cent in the year so far.

“The board of directors of the company will consider final dividend for the financial year ended March 31, 2016 or buy back equity shares of the company or go for a combination thereof in its meeting scheduled to be held on April 27, 2016,” the company said in a filing to the BSE.