Bharti Airtel most "Googled"

Bharti Airtel is most certainly the news maker of the day currently. The stock, which had closed yesterday at Rs.707.20, opened today at Rs.718 and went up to an intraday high at Rs.752.80, up over 6.5%.

The stock price surged after the company announced a strategic partnership with Google.  Apart from picking up a 1.28% stake via a preferential allotment, Google will also invest up to $300 million towards implementing various commercial agreements which will include investments in scaling Airtel’s offerings.

Bharti will issue 7.12 crore shares to Google on a preferential basis at a price of Rs.734/share, which is a premium of 4% to yesterday’s close.