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Bharti Airtel confirmed that its promoter unit sold 0.84 percent stake, in which 1.20 crore shares were acquired by Bharti Telecom, another publicity
The Indian Equity Index ended on Tuesday on Tuesday.
Foreign institutional investors (FIIs) changed pure buyers on Tuesday in India’s secondary market after a long time. It marks the first major FII purchase of 2025 amid sales that have been going on for the past several months. According to NSE/BSE data, FII bought equity of Rs 4,787 in secondary market compared to DIIS (domestic institutional investors).
Airtel block deal is the reason
Fis replaced net buyers on Tuesday due to a block deal in Bharti Airtel.
On 18 February, Bharti Airtel’s 5.1 crore block deal, which was priced at Rs 8,475 crore, was executed on exchanges, being a promoter unit, seller, with Indian continent investment. The deal had a 0.9 percent stake in the telecom company.
Bharti Airtel confirmed that its promoter unit sold 0.84 percent stake, in which 1.20 crore shares were acquired by another promoter Bharti Telecom. The company was specifically allocated only to investors for a long time, both global and domestic, said the company.
According to a report by CNBC-TV18, the deal comes with a 180-day lock-in period for the deal seller, his agents, nominees or subsidiaries. Additionally, all orders placed for shares under this deal will be considered as part of specific transactions instead of regular market orders.
On Friday, Airtel’s shares fell at -0.43 percent to settle at Rs 1668.40 per share.
Nifty, Sensex & Flat
The Indian Equity Index ended on Tuesday on Tuesday.
“The Nifty Index opened the flat, saw the sale of pressure in the first half, but saw a sharp recovery in the second half, eventually reduced to 22,945. The instability index, India Vicks, cooled from 16.32 levels, fell from 0.36% to 15.67. Technically, on the daily scale, the Nifty has formed a hammer candlestick pattern near several support areas, indicating strength. As long as the index is at a recent low of 22,725, a purchase-on-Deeps strategy is favorable. The 21-day simple moving average (DSMA) at 23,240 serves as an immediate obstruction, and a decisive step above this level can confirm the reversal below a near-period, “Hrishikesh Yedve, AVP technology And asit C. Mehta Investment Interridies by Derivatives Research Ltd.
