Bharti Airtel falls 4% after Moody's downgrades rating to Ba1

The stock dipped 4% to Rs 293, close to its 52-week low of Rs 277 touched on October 22, 2018, on BSE in the intra-day trade.

Shares of Bharti Airtel dipped 4 per cent to Rs 293 apiece on BSE in the intra-day trade on Tuesday after international rating agency Moody's downgraded the senior unsecured rating for the company as well as the backed senior unsecured notes issued by Bharti's wholly-owned subsidiary, Bharti Airtel International (Netherlands) B.V. to Ba1 from Baa3. The ratings outlook is negative.

In the past one month, the stock has underperformed the market by falling 9 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex. It is 6 per cent away from its 52-week low of