The Stock Price of Indian Telecom Joint Bharti Airtel was trading up almost 3.55% in early trade today. The share price of the company has increased by more than 7% in the last one week.
Recently Airtel has prepayment of spectrum dues of Rs 8815 crore to reduce its interest expenses. In the last 4 months period, Airtel has cleared deferred spectrum liability of Rs 24,334 crore which is much before the actual maturity.
This indicates the improving financial health of the company. Apart from this, there was also a buzz in the market that Airtel would soon buy a stake in Indus Tower, one of the largest tower infrastructure providers in India.
With 184,748 towers and 335,106 co-locations, Indus Towers is one of the largest tower companies in the world.
According to the report, Bharti Airtel has acquired a 4.7% stake in Indus Tower worth Rs 2388 crore at a price of Rs 187.88 per share.
This stake has been bought by Airtel from Vodafone on the condition that the funds raised from this will be infused as fresh equity in Vodafone Idea.