In the note, the agency said despite the additional investment, the incremental cash contribution to Singtel from Bharti is unlikely to be significant as it remains only an associate company for the Singaporean telco.
Shares of Airtel closed at ₹439.50 on the BSE on Monday, up 4.20 per cent from Friday's close. Bharti Enterprises continues to hold over 50 percent stake in Bharti Telecom. Shares of the company rose over 1% on BSE Sensex. In a statement, Bharti Airtel said funds raised from the transaction will be used to trim debt.
The purchase worth as much as 26.5 billion rupees could increase Singtel's stake in Bharti Telecom by up to 1.7 percentage points to 48.9 percent and its holding in Bharti Airtel, the country's biggest mobile carrier, by up to 0.9 percentage points to 39.5 percent.
Analysts at Nomura, however, said prospects for rising profitability of Airtel's Africa operations, adequate spectrum availability in the medium term and the company's plan to sell its stakes in tower assets should pave way for a recovery for Airtel in a few years' time.
The investment comes within 23 months of Singtel's participation in Bharti Telecom's right issue of Rs2,500 crore, which was completed in February 2016.
Cowen Reiterates Buy Rating for Booz Allen Hamilton (BAH) The stock of Booz Allen Hamilton Holding Corporation (NYSE:BAH) has "Buy" rating given on Tuesday, October 3 by Vertical Research. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink .
Dow plunges 1175 points in worst day for stocks since 2011 What the Trump administration may find frustrating is that markets have plunged off of relatively positive economic news. In the Middle East, stocks were touched by the US and Asian markets' sell-off, though the losses were more limited.
"The fresh round of investment highlights the confidence of Singtel in Airtel, and the increased attractiveness of the Indian telecoms sector following the recent consolidation". Its consolidated net debt stood at Rs 91,480 crore in the September quarter.
Bharti Airtel is India's largest telecom provider with over 28 crore subscribers.
Recently, the company had promised a whopping Rs 25,000 crore investment in capital expenditure in FY18. "This will increase Singtel's stake in Bharti Telecom by up to 1.7 per cent for an aggregate consideration of approximately Rs 2,650 crore", Singtel said.
Singtel's subsidiary Singtel International Investments proposes to subscribe to new shares in Bharti Telecom through a preferential allotment worth $555.6m.
The entry of aggressive new operator, Reliance Jio, and its free voice and dirt-cheap data offerings has prompted incumbent telcos like Bharti Airtel, Vodafone and Idea Cellular to respond, hitting their overall financials and business metrics.
Should we became aware that a girl has repeated an infraction, there could be consequences, determined on a case-by-case basis. The scout's father told 10News his daughter has sold more than 300 boxes in a total of about 6 hours.
Hudson Valley Investment Advisors Inc bought 3,800 shares as the company's stock declined 12.71% while stock markets rallied. The specialty chemicals company reported $2.73 EPS for the quarter, topping the Zacks' consensus estimate of $2.55 by $0.18.
It's the summation of a process years in the making and a guarantee that their son will play football and go to college for free. His mother also came back after the interview was over and signed the Letter of Intent and gave her son a hug.
I'm sorry her phone broke but I think its not fair that i should be blamed for what I reportedly didn't do. However, she also received support, with one user saying, "What you did today morning is absolutely fine".
Nobody in history is doing what I am doing. "All roads lead to Deontay Wilder because I am going nowhere, no time soon". Amir Khan believes Anthony Joshua needs to box in America soon if he is to become a global sporting star.
Looking at the price activity of the stock of Concho Resources Inc. ( NYSE : MRK ) on Wednesday, September 30 with "Hold" rating. It has underperformed by 25.48% the S&P500. ( MRK ) by 141.85% based on its latest 2017Q3 regulatory filing with the SEC.
Larry McDonald, founder of the Bear Traps Report , warned that such a huge spike in volatility could have a cascading effect. As of this writing, both XIV and SVXY were halted for trading, but were expected to resume trading later in the day.
Health Dept.'s Numbers Show 2 Additional Flu Deaths
But health officials say they can not accurately assess the effectiveness of the vaccine for at least another couple of weeks. It's not clear yet whether this season - the season begins in early October and lasts 32 weeks - has reached its peak.
Los Angeles Times sold to billionaire for $500 million
Soon-Shiong, 65, is founder and chief executive of "next-generation" healthcare company NantHealth , based in Culver City. Here, Patrick Soon-Shiong during a Urban Economic Forum co-hosted by White House Business Council and U.S.
Support for investigation of US Olympic Committee grows
USA Gymnastics and Michigan State University, where Nassar was also employed, also face a number of investigations and lawsuits. The special committee is tasked with determining the extent to which USA Gymnastics and USOC were aware of Nasser's actions.
U.S. stocks swing in wild trading after steep sell-off
Investors began to scramble for safe havens such as bonds and Treasury notes, putting yet more downward pressure on stocks. The problem is that markets react in real time, often based on a single piece of data, while earnings increase over time.
Jhulan Goswami becomes first woman to 200 ODI wickets
She has also won the ICC Women's Cricketer of the Year award in 2007, the Arjuna Award in 2010 and the Padma Shri in 2012. Australia's Cathryn Fitzpatrick occupies the second spot with 180 wickets followed by compatriot Lisa Sthalekar on 146.
Lebanon: Israeli wall 'assault on Lebanese land'
The message was delivered to Jerusalem via UNIFIL, the report said. "We will move forward as fast as possible", Lieberman said. An Israeli Navy Sa'ar 5 corvette defends a natural gas extraction platform off Israel's coast, in an undated photograph.
Kylie Jenner baby pic causes social media Storm(i)
She posted a video on her app that showed her mother Kris Jenner giving birth to her and ended with a message about her own baby. In an interview posted on her app, she confessed, "I like to have a very big family".
'Kim Possible' is getting a live-action Disney movie
Or, may we suggest the star of Disney Channel's latest original movie Zombies , Meg Donnelly ( American Housewife)? Kim is a typical high school girl who, in her spare time, saves the world from evil villains.
Microsoft Cortana Now Available for iPad
Rivals Alexa and Google Assistant were amongst the most popular apps this holiday season. Version 2.6.8 adds the feature with an "exclusive layout and interface for your iPad".