Shares of Bharti Airtel hit a 52-week high of Rs 1,022.55 on 1 December after a 1.4% stake changed hands on the exchanges.

Around 8.1 crore shares of the company changed hands in a block deal for an average price of Rs 1,023 per share, which is a 2% discount from the closing price of 30 November. The total value of this transaction stood at Rs 8,286.30 crore.

The buyers and sellers involved in this deal are yet to be identified.

On 29 November, the stock hit a new all-time high and crossed the Rs 1,000 mark for the first time. The rush towards the company’s stock was fuelled by last week’s report suggesting that the company had initiated the process of taking its subsidiary Bharti Hexacom public. If its subsidiary goes public, it will mark the company’s first public offering in over a decade.

In its quarterly report for July-September, the company reported a 37% year-on-year (YoY) decline in its net profit to Rs 1,341 crore during the quarter from Rs 2,145.2 crore reported in the same quarter last year.

However, the revenue of the company jumped 7% YoY to Rs 37,043.8 crore against Rs 34,526.8 crore reported in the same quarter of the previous fiscal year.

Moreover, the average revenue per user has also seen an improvement to Rs 203 per customer from Rs 190 reported in the same quarter last year.

At 10:45 am, the shares of Bharti Airtel were trading 0.16% higher at Rs 1,016.30 on NSE.