Home >Markets >Stock Markets >Integrated Core Strategies sells Bharti Airtel shares worth Rs2062 crore

MUMBAI: Singapore-based investment company Integrated Core Strategies (Asia) Pte. Ltd on Friday sold 37 million shares of Bharti Airtel Ltd for Rs2,062 crore through an open market transaction, as per data available with stock exchanges.

Integrated Core Strategies (Asia) Pte sold 3,70,59,893 shares of Bharti Airtel at an average price of Rs556.46 apiece totalling Rs2,062.23 crore, as per bulk deals data available on the National Stock Exchange.

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In August, Integrated Core Strategies (Asia) had acquired 3.80 crore shares, or 0.7% stake in Bharti Airtel via a bulk deal.

Meanwhile, Airtel Digital, a wholly-owned subsidiary of Bharti Airtel, has agreed to subscribe to 5,000 equity shares--10% stake--in Ferbine for a cash consideration of Rs50,000. The transaction is expected to be completed by 5 March.

On a consolidated basis, the telecom major reported a net profit of Rs853.60 crore for the December quarter compared to a net loss of Rs1,035.30 crore in the year-ago period. Net sales during three months to December jumped 24.2% year-on-year to Rs26,517.80 crore.

On Monday, shares of Bharti Airtel traded at 527.10, down 5.25% on the NSE, while the benchmark Nifty was up 0.86% at 14,654.15 points.

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