Bharti Infratel up 10% post DoT nod to Indus Tower merger; Board meet today

Shares of Bharti Infratel surged 10 per cent to Rs 248.7 on the BSE on Monday after the Department of Telecom (DoT) approved the merger of mobile tower company Indus Towers with Bharti Infratel. Besides, the Board is scheduled to meet today to decide the future course of action. READ STATEMENT HERE

At 9:48 am, the stock nearly erased its entire early morning gains and was quoting at Rs 226.75, up 0.29 per cent. In comparison, the benchmark S&P BSE Sensex was at 40,741.95, down 428 points or 1.04 per cent. Nearly 5.93 million shares have changed hands on the counter on the NSE and BSE so far till the time of writing of this report.

Bharti Infratel and Vodafone hold 42 per cent stake each in Indus. Besides, the latter holds 11.15 per cent stake in the mobile tower firm.