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Bharti Airtel confirmed that its promoter entity sold a 0.84 percent stake, with 1.20 crore shares being acquired by Bharti Telecom, another promote
Indian equity indices on Tuesday ended flat on Tuesday.
Foreign Institutional Investors (FIIs) turned net buyers on Tuesday in the India’s secondary market after a long time. It marks the first big FII buying of 2025 amidst the selling spree that have been continued for the past several months. FIIs bought equities worth Rs 4,787 in the secondary market as compared to DIIs (Domestic Institutional Investors) which bought securities worth Rs 3,072 crore, according to data of NSE/BSE.
Airtel Block Deal Is The Reason
FIIs turned net buyers on Tuesday due to a block deal in Bharti Airtel.
On February 18, a block deal involving 5.1 crore shares of Bharti Airtel, valued at Rs 8,475 crore, was executed on the exchanges, with Indian Continent Investment, a promoter entity, being the seller. The deal accounted for a 0.9 percent stake in the telecom company.
Bharti Airtel confirmed that its promoter entity sold a 0.84 percent stake, with 1.20 crore shares being acquired by Bharti Telecom, another promoter. The shares were allocated exclusively to key long-only investors, both global and domestic, the company stated.
According to a report by CNBC-TV18, the deal comes with an 180-day lock-in period for the seller, its agents, nominees, or subsidiaries. Additionally, all orders placed for shares under this deal will be treated as part of the specific transaction, rather than regular market orders.
On Friday, Airtel’s shares fell -0.43 per cent to settle at Rs 1668.40 per share.
Nifty, Sensex End Flat
Indian equity indices on Tuesday ended flat on Tuesday.
“The Nifty index opened flat, witnessed selling pressure in the first half, but saw a sharp recovery in the second half, ultimately settling marginally lower at 22,945. The volatility index, India VIX, cooled off from 16.32 levels, declining 0.36% to 15.67. Technically, on the daily scale, Nifty has formed a hammer candlestick pattern near a multiple support zone, indicating strength. As long as the index holds the recent low of 22,725, a buy-on-dips strategy remains favorable. The 21-Day Simple Moving Average (DSMA) at 23,240 acts as an immediate hurdle, and a decisive move above this level could confirm a near-term bottom reversal,” By Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
