Bharti Infratel, highest dividend paying stock gains 24% in 3 days


Shares of Bharti Infratel rose by 24% in the last three trading sessions after the merger of Bharti Infratel and Indus Towers to create a mega tower company was completed successfully. The share has gained 5.11% today at 11:20 a.m. In early trade, the stock of Bharti Infratel went up by 8% to ?238. The stock opened at ?219.95. The stock hit a 52-week high of ?295.75 in December last year. The share has a market cap of ?42,293 crore.

Bharti Infratel board on 1 September approved the long-pending merger with Indus Towers, first announced in April 2018, to create the world’s largest mobile tower operator outside China. The deal was completed on Thursday, Bharti Infratel said in an exchange filing.

Vodafone Group will hold 28.12% stake in the merged entity, while the holding of Airtel Group will be about 36.7%.

Bharti Infratel is one of the highest dividend paying stock. According to a report by ICICI Securities, Bharti Infratel has a dividend yield of 5.6% currently.

The report further observes that high dividend yield stocks have performed better in a falling real interest rate environment. “High dividend yield stocks appear attractive as their yields are now comparable to other fixed income instruments while having the added advantage of ‘inflation hedge’ characteristics of stocks as an asset class,” says ICICI Securities.

The stock has a price to earnings ratio of 14.75, while the price-to-book value ratio stood at 2.19. The company has a Return on equity (ROE) of 24.35%. The scrip quoted a 52-week low price of ?121.25 in March this year.

News Source:- Livemint

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