Business Standard

Bharti Airtel stock declines over 4% on fundraising plans

The stock has corrected about 9 per cent from its record level of Rs 644 touched on August 16

Bharti Airtel
Premium

Despite high India capex in Q1, management reiterated its unchanged annual capex guidance of Rs 24,100 crore for FY22, the brokerage said

Deepak Korgaonkar Mumbai
Shares of Bharti Airtel fell 4.2 per cent to Rs 587 apiece on the BSE Sensex on Thursday because of profit-booking and concerns over the additional share-supply after the telecom services major announced fundraising plans.

The stock has corrected about 9 per cent from its record level of Rs 644 touched on August 16. The correction follows an over 18 per cent rally from around Rs 525 in July. But, despite the correction, it has outperformed the market in the past month by gaining 7.9 per cent, as compared to a 5.9 per cent rise in the Sensex.

Airtel informed

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 27 2021 | 1:43 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com