The stock opened in the red today at Rs 209 against the previous close of Rs 209.45 on the NSE. During the day, it touched an intraday high of Rs 211 and an intraday low of Rs 206.10.
Shares of telecom infrastructure company SAR Televenture are in focus as the company has announced a Share Purchase Agreement (SPA) with L&T Finance Limited for the acquisition of its 19.93 per cent stake in Tikona Infinet Private Limited. According to the company, the acquisition will consolidate its shareholding in Tikona.ย
Earlier, the board had approved the acquisition of a majority stake in Tikona Infinet for Rs 578 crore through a share swap arrangement. The acquisition paved SAR Televenture’s entry into the enterprise broadband segment.
Tikona has pan-India unified licence and national long distance (NLD) licence which allow it to offer broadband, lease line, virtual private networks (VPNs) and other communication services.
Share Price Today
The stock opened in the red today at Rs 209 against the previous close of Rs 209.45 on the NSE. During the day, it touched an intraday high of Rs 211 and an intraday low of Rs 206.10. Last seen, it was trading at Rs 206.10, with a loss of 1.60 per cent. The market cap of the company stood at Rs 970.89 crore.ย
Technically, the stock trades higher than the 5-day and 20-day moving averages but lower than the 50-day, 100-day and 200-day moving averages.
Stock Market Today
Equity benchmark indices Sensex and Nifty were trading with gains in early trade on Thursday tracking a rally in Asian markets amid hopes that the US Federal Reserve will cut interest rates next week.
Renewed optimism over a successful conclusion of India-US trade talks also lend support to the markets to stay in the positive territory.
The 30-share BSE Sensex climbed 153.82 points to 81,578.97 in early trade. The 50-share NSE Nifty went up 34.15 points to 25,007.25.
From the Sensex firms, Eternal, Adani Ports, NTPC, Bajaj Finance, State Bank of India and Bajaj Finserv were among the major gainers.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)