News > Bharti Airtel shares surge after preferential issue announcement

Bharti Airtel shares surge after preferential issue announcement

Shares of Bharti Airtel surged over 1.7% in Tuesday’s opening deals to ₹ 701 apiece on the BSE in an otherwise weak market after the company announced that the board would consider and evaluate the proposal for issuance of equity shares through preferential issue.

“Bharti Airtel’s announcement to consider an equity issuance on a preferential basis has come as a surprise as there is no immediate need for capital, in our view,” said Jefferies in a note.