Bharti Infratel Ltd., a provider of telecom infrastructure, rose for the third day in a row on Monday after a huge block deal was reported on the counter in the previous trading session.
The block deal turned sentiment for the better on the stock.
As a consequence, Bharti Infratel surged 30.30 rupees, or 7.8 percent, to 420.95 rupees on National Stock Exchange, where 11.9 lakh shares were traded versus the 5-day average of 17.5 lakh shares.
Bharti Infratel has seen is market capitalisation jump 60 percent in the past one year to 80,311 crore rupees. The stock is quoting at 4.6 times its book value of 92.5 rupees and the company has seen its sales grow 10.6 percent compounded over the past five years.
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