Wednesday, 9 April 2014

Bharti Airtel gains on entering into cross-border remittance partnership with MTN

Bharti Airtel is currently trading at Rs. 318.00, up by 0.30 points or 0.09% from its previous closing of Rs. 317.70 on the BSE.
The scrip opened at Rs. 318.60 and has touched a high and low of Rs. 319.75 and Rs. 317.35 respectively.
The BSE group 'A ' stock of face value Rs. 5 has touched a 52 week high of Rs. 373.50 on 01-Nov-2013 and a 52 week low of Rs. 270.25 on 08-Apr-2013.
Last one week high and low of the scrip stood at Rs. 328.50 and Rs. 312.00 respectively. The current market cap of the company is Rs. 126977.41 crore.
The promoters holding in the company stood at 65.23 % while Institutions and Non-Institutions held 24.53 % and 10.24 % respectively.
Bharti Airtel, country's largest telecom operator, has entered into a cross-border remittance partnership with South Africa's MTN Group to facilitate mobile money transfer between the two West African countries of Ivory Coast and Burkina Faso. This new partnership would help both the operators’ customers on either side of the border. MTN and Airtel already enjoy great adoption of Mobile Money services in their respective footprints, and connecting their operations through remittance services appears a logical next step.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.

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