Bharti Airtel shares fall: There was a decline in the Indian stock market on Friday, the last trading session of the week. At the same time, amid this decline, shares of India’s famous telecom company Bharti Airtel also fell by 4.46 percent. The main reason for the fall in shares was the sale of stake in Singapore Telecommunications Company.
Singtel sold its 0.8 percent stake in Bharti Airtel. Singtel received US $ 1.16 billion for this deal. This information has been given by the company. According to the information received, Singtel has taken this step keeping in mind the re-structuring plan.
Singtel is not expressing confidence in Airtel
Singtel has been an investor in Bharti Airtel since 2000. If we talk about the data, now Singtel’s stake in Bharti Airtel is now 27.5 percent. Whereas, this figure was 31.4 percent in 2022. However, in the last few years, there has been a tremendous rise in the share prices of Bharti Airtel. Due to which Singtel has got the opportunity to earn good profit from this deal.
Condition of company’s shares on Friday?
After this deal on Friday, November 7, there was a decline in the shares of the company. The company’s shares closed in the red on BSE at Rs 2001.10. However, the company started the day at Rs 2,048.60. At the end of the trading day the company’s shares fell 4.46 percent. Which shows a fall of Rs 93 from the previous close. The company’s shares had reached its 52-week all-time high of Rs 2,135.75.
How were the results of the second quarter?
According to the information given by Bharti Airtel, the company has made profit in this quarter. In this quarter, the company’s profit has increased by 89 percent to Rs 6,792 crore. The company’s profits have increased due to the continuously increasing number of customers.
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