Bharti Airtel stock hits 52-week high on bourses

Stocks of Bharti Airtel rose 5% today after the company entered into an exclusive agreement with France-based telecom operator Orange to sell four of its subsidiaries in Africa. 

The stock gained 4.98% to Rs 450.85 -- its 52-week high at the BSE. On the NSE, shares of Bharti Airtel went up 4.99% to touch a one-year high of Rs 450.90. 

"Orange and Bharti Airtel International (Netherlands) BV (Airtel) enter an exclusive agreement concerning four Airtel subsidiaries in Africa," the company said in a statement on Monday.

But it said there is no certainty of any binding agreement as a result of these discussions. 

"The two telcos have entered into an exclusive agreement to explore the possible acquisition by Orange of Airtel''s subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone," the statement said. 

ALSO READ: French telecom operator Orange to buy four African subsidiaries from Airtel