Stock Market: Pressure in the market but this telecom infra stock is booming, what is the news?

News Topical, Digital Desk : Pressure is being seen in the stock market once again today. The major indexes are swinging between gains and losses, although many stocks are maintaining their own direction in between. The effect of news is being seen on these stocks. One such stock is Indus Towers. The telecom infrastructure company included in Nifty Midcap 50 has risen by about 5 percent in today's session. The stock has maintained its gains till the afternoon session and the share price is showing stability at the upper levels of the day.

What is the news on the stock

Bharti Airtel has increased its stake in Indus Towers and Bharti Airtel has bought 68.74 lakh shares in the company through the open market. The company has bought these shares between 25 August and 1 September. With this purchase, Bharti Airtel has increased its stake in the company by 0.26% and now Bharti Airtel's stake in the company has increased to 50.26%. 

How was the stock performance The stock has seen a gain of more than 5 percent in today's session and the stock is constantly close to the upper levels. During the session, the stock has reached the level of 341.9 as compared to the previous closing level of 324.05. That is, it has seen a gain of 5.5 percent. The stock had made a year's low of 312.55 this month. Exactly a year ago, the stock was at a year's high of 444.55. 
 

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