Bharti Airtel hits over four-month low

The stock witnessed pressure as reduced rates on prepaid internet data plans could hurt margins

Bharti Airtel has fallen 3% to Rs 331 on the BSE in an otherwise strong market after the reduction in rates of prepaid internet data plans to defend its data market share could hurt margins. The stock is currently trading at its lowest level since April 8, 2016.

Bharti Airtel on Thursday announced the launch of Mega Saver Pack for prepaid customer. The packs are available in two denominations. The Rs 1,498 pack offers 1GB 4G/3G data upfront with a validity of 28 days. Post exhaustion of this data limit, the customer can enjoy 1GB 4G/3G recharges for just Rs 51 over a period of 12 months.

There is no limit on the number of recharges during the period and higher the number of recharges the more value a customer gets. Similarly, the Rs 748 pack offers 1GB 4G/3G data upfront and post exhaustion of this data limit, customers can enjoy 1GB 4G/3G recharges for just Rs 99 over a period of six months. There is no limit on the number of recharges during the period.

At 01:20 pm, the S&P BSE Sensex was up 1.2% or 332 points at 28,234. A combined 2.63 million shares changed hands on the counter on the NSE and BSE so far.