Bharti Airtel trades lower after block deals

The Qatar Foundation Endowment is likely sell up to 199.9 million shares, comprising a 5% stake, in Bharti Airtel on Wednesday, report

Bharti Airtel dipped 6% to Rs 481 on the BSE in early morning trade after more than 1% stake of the company changed hands through multiple block deals. The stock was down 4.4% to Rs 492 on the National Stock Exchange (NSE) in early morning deal.
 

At 09:26 AM; the stock was trading 2.3% lower at Rs 502 as compared to 0.3% rise in the S&P BSE Sensex. A combined 45.36 million equity shares representing 1.1% of total equity of Bharti Airtel have changed hands on the BSE and NSE, the exchange data shows.

According to Business Standard reports, the Qatar Foundation Endowment is likely sell up to 199.9 million shares, comprising a 5% stake, in Bharti Airtel on Wednesday at about Rs 9,500 crore.CLICK HERE TO READ FULL REPORT