New Delhi:
Bharti Airtel managing director and chief executive officer
(international) Manoj Kohli has sold 50,000 shares in the company for Rs. 1.81 crore through open market route.
According to a regulatory filing, Mr Kohli sold 50,000 shares in Bharti Airtel, valued at Rs. 18,115,276, on November 1 through market sale on the National Stock Exchange (NSE).
Buyer(s) of the shares could not be immediately ascertained.
Post the transaction, Mr Kohli holds 225,739 shares, or a 0.01 per cent stake in the company, the filing added.
The top official sold the equity shares through HSBC Securities and Capital Markets (India) Private Ltd. The deal was intimated to the company on November 5, 2013.
Manoj Kohli joined Bharti Airtel in 2002. He leads the international strategy and vision at the telecom major and is responsible for leading its Africa operations (17 countries), which Bharti Airtel acquired in June 2010. He is also responsible for leading the Sri Lanka and Bangladesh operations.
Last week, the company reported a 29 per cent slump in its net profit at Rs. 512 crore for the quarter ended September 30, 2013, mainly due to increase in finance cost and forex losses. That was a fifteenth consecutive fall in quarterly profit.
The company had posted a net profit of Rs. 721.2 crore for the same period in the previous fiscal year (FY13).
Shares in Bharti Airtel, on Tuesday, ended at Rs. 359.65 apiece on the BSE, down 1.56 per cent from the previous close.
Bharti Airtel managing director and chief executive officer
(international) Manoj Kohli has sold 50,000 shares in the company for Rs. 1.81 crore through open market route.According to a regulatory filing, Mr Kohli sold 50,000 shares in Bharti Airtel, valued at Rs. 18,115,276, on November 1 through market sale on the National Stock Exchange (NSE).
Buyer(s) of the shares could not be immediately ascertained.
Post the transaction, Mr Kohli holds 225,739 shares, or a 0.01 per cent stake in the company, the filing added.
The top official sold the equity shares through HSBC Securities and Capital Markets (India) Private Ltd. The deal was intimated to the company on November 5, 2013.
Manoj Kohli joined Bharti Airtel in 2002. He leads the international strategy and vision at the telecom major and is responsible for leading its Africa operations (17 countries), which Bharti Airtel acquired in June 2010. He is also responsible for leading the Sri Lanka and Bangladesh operations.
Last week, the company reported a 29 per cent slump in its net profit at Rs. 512 crore for the quarter ended September 30, 2013, mainly due to increase in finance cost and forex losses. That was a fifteenth consecutive fall in quarterly profit.
The company had posted a net profit of Rs. 721.2 crore for the same period in the previous fiscal year (FY13).
Shares in Bharti Airtel, on Tuesday, ended at Rs. 359.65 apiece on the BSE, down 1.56 per cent from the previous close.
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