NEW DELHI: Shares of Bharti Airtel continued to rally for the second straight session today, gaining over 5 per cent as the company announced the acquisition of Tata group's loss-making mobile telephony business, almost for free, boosting its spectrum holding and user base.
The stock advanced by 4.96 per cent to settle at Rs 453 on BSE. During the day, it jumped 5.97 per cent to Rs 457.40 -- its 52-week high.
On NSE, shares of the company climbed 5.19 per cent to close at Rs 453.30.
The stock was the top gainer on both the key indices during the day.
In terms of equity volume, 7.04 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.
The stock had gained up to 8 per cent on Friday also. In two days, the company's market valuation surged by Rs 21,167.22 crore to Rs 1,81,082.22 crore.
Bharti Airtel is set to take over Tata group's money-losing mobile business from November 1, saving the Tatas from the prospect of having to shut down the struggling unit.