Shares of Bharti Airtel climbed 3 percent following acquisition of New Delhi-based wirless broadband internet service provider. The top telecom operator with operations in 20 countries across Asia and Africa on Wednesday said it has signed a definitive agreement to acquire 100 percent equity stake in Augere Wireless Broadband India that incorporated in 2007. Augere holds 20 MHz of BWA spectrum in Madhya Pradesh and Chhattisgarh circles (MPCG). Upon acquisition, it will become a wholly-owned unit of Airtel, said the company.
The market has opened higher riding high on strong global cues. The Sensex is up 392.57 points or 1.5 percent at 26107.23 and the Nifty is up 127.90 points or 1.6 percent at 7919.75. About 461 shares have advanced, 64 shares declined, and 14 shares are unchanged. ONGC, M&M, Bharti Airtel, Hindalco and Bajaj Auto are top gainers in the Sensex. The Indian rupee gained past 66 a dollar in early trade following rally in global equity markets. The currency appreciated by 20 paise to open at 65.94 per dollar against previous day's closing value of 66.14 a dollar.
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