Friday, August 19, 2005

Huge block deal in Bharti Tele-Ventures


A massive block deal of 1.1 crore shares was executed in Bharti
Tele-Ventures on BSE’s negotiated deals window, specially created for
institutional investors.
The deal took effect at a price of Rs 328 per share. The details of the deal
were not immediately available.
Following the execution of the deal, Bharti Tele-Ventures (BTL) gained
ground in the normal rolling settlement on BSE. The stock climbed 1.2% to Rs
321.80 in early afternoon trades. 1.4 lakh shares were exchanged in the
normal rolling settlement in the stock on BSE.
BTL scrip has experienced a steep rally since late July 2005. Expectations
of strong Q1 June 2005 results and surge in cellular subscriptions for July
2005 saw the counter strengthen. From a low of Rs 249.80 on 20 July 2005,
the stock soared to a lifetime closing high of Rs 319.95 on 17 August 2005.
It drew back a bit to Rs 317.90 the next day (18 August 2005).
Last few months saw the Bharti Tele-Ventures (BTL) stock zoom up. From a low
of Rs 202.15 on 27 April 2005, the stock made headway to Rs 317.90 by 18
August 2005.
BTL’s addition by way of new subscriptions, of 5.33 lakh, in July 2005 was
an improved showing compared to the addition of over 4 lakh users each in
May 2005 and June 2005. The company’s total subscriptions, as at end July
2005, stood at 12.789 million.
BTL’s consolidated net profit, as per Indian GAAP, has leaped up 96.8% to Rs
470.47 crore from Rs 239.04 crore in Q1 June 2004. Consolidated total income
moved up 45.8% to Rs 2,527.39 crore from Rs 1,733.15 crore.
The company has decided to outsource its call centre operations to four
companies in a three-year contract estimated at $ 230 million. Nortel
Networks will provide the call routing and prioritisation technology to
these back office firms.

Hinduja TMT rose 1.6% to Rs 335 after the company said it has acquired the business of Immaculate Interactions, a well-known call centre in Bangalore


266 shares changed hands in the counter on BSE by the first few minutes of
trade.
The stock witnessed a rally during early July 2005 to mid-July 2005. It
later came off the higher level. From a recent high of Rs 364.70 on 20 July
2005, the stock slipped to Rs 329.50 by 18 August 2005. Earlier, the stock
jumped 21.8% in a short while to Rs 364.70 on 20 July 2005 from a low of Rs
299.30 on 4 July 2005.
Immaculate specialises in the outbound/telemarketing space. With the
acquisition of this expertise, the company can now offer a more
comprehensive range of services to the customers, in addition to the current
inbound customer support, technical help desk and Non Voice back office
processing services, Hinduja TMT said. As Immaculate has a strong presence
in the UK and Australian markets, this will complement the company's reach
in the English speaking developed markets, as the company already has a
strong presence in North American markets, it added.
The acquisition comes with a professional management team and adds approx.
51,000 sq ft of additional space to the existing infrastructure capacity,
very close to the company's existing facilities in Bangalore, Hinduja TMT
said.
Hinduja TMT is one of the four companies recently chosen by Bharti
Tele-ventures as its strategic outsourcing partners for call centre
operations.
Hinduja TMT has submitted a binding bid for Barings' 36% stake in Mphasis
BFL.

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