Singapore Telecommunications Limited (Singtel) through Block Deal Bharti Airtel I am planning to sell my stake. CNBC Awaaz has come to know about this from sources. He says that the value of this transaction is estimated to be Rs 8,500 crore. It is being said that the board of Singtel can meet to discuss this stake sale this week. This proposed sale is part of the company’s capital management strategy. However, no official statement has been revealed by Singtel on this matter yet.
Currently, Singtel holds around 30% stake in Bharti Airtel. Singtel is a well -known Communications Group, which offers services like mobile, broadband and TV in Asia, Australia and Africa. In the October-December 2024 quarter, the promoters of Bharti Airtel reduced their stake in the company from 53.14 percent to 53.11 percent. At the same time, Mutual Funds increased their stake from 10.71 percent to 11.37 percent.
Bharti Airtel declines on 17 February
Bharti Airtel’s shares decline on 17 February. The stock opened at Rs 1716.95 with a slight fall on BSE in the morning. After this, the previous closed price broke up to about 3 percent to a low of Rs 1665.90. The company’s market cap has been Rs 9.55 lakh crore. The stock fell more than 2 percent to Rs 1675.55 at Rs 1675.55 when trading was closed. The stock has climbed about 50 percent in a year. In 3 months, Bharti Airtel shares have risen only 8 percent.
How much profit in December quarter
Bharti Airtel’s revenue was Rs 28,434 crore on the standalone basis in the October-December 2024 quarter. Meanwhile, the net profit was Rs 9,197.40 crore and earning was Rs 15.88 crore per share. In FY 2024, the company’s standalone basis was recorded at Rs 94,119.80 crore, net profit of Rs 4,988.20 crore and earning Rs 8.74 crore per share.
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