Shares of Bharti Infratel rose for the third day in a row today

Bharti Infratel Ltd., a provider of telecom infrastructure, rose for the third day in a row on Monday after a huge block deal was reported on the counter in the previous trading session.

Compassive Investments Pte Ltd. sold 1.736 crore shares of Bharti Infratel at a price of 380 rupees each in a deal valued at more than 660 crore rupees each on Friday. The transaction was reported post market hours.

The block deal turned sentiment for the better on the stock.

As a consequence, Bharti Infratel surged 30.30 rupees, or 7.8 percent, to 420.95 rupees on National Stock Exchange, where 11.9 lakh shares were traded versus the 5-day average of 17.5 lakh shares.

Bharti Infratel has seen is market capitalisation jump 60 percent in the past one year to 80,311 crore rupees. The stock is quoting at 4.6 times its book value of 92.5 rupees and the company has seen its sales grow 10.6 percent compounded over the past five years.

Image credit: Indiatimes