Bharti Airtel stock declines over 4% on fundraising plans

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