airtel share price
The Indian stock market is also witnessing a decline on the last trading day of the week i.e. Friday. The market’s main index Sensex is trading at 83,096.40 with a decline of 214.61 points till the time of writing the news. Meanwhile, shares of Bharti Airtel, a major company in the telecom sector, have also received a down grade. The company’s stocks have fallen by about 4.5 percent today. This happened because the news came that Singapore Telecom (Singtel) is preparing to make a block deal to sell about 0.8% of its stake in the Indian telecom company.
It has been said in many reports that Singtel’s owned promoter group company Pestle is planning to sell shares of Airtel. This deal worth about Rs 10,300 crore can be done at a minimum price of Rs 2,030 per share, which is 3.1% less than the recent closing price of Airtel.
Earlier also there was news that Singtel is thinking of selling about 0.8% of its stake in Airtel. This step is considered to be a part of the company’s larger re-structuring plan, which aims to further improve investment in its regional business. Singtel is gradually reducing its stake in Airtel so that it can make better use of its capital and focus on its core business. In early May this year, the company had sold shares worth 2 billion Singapore dollars. Apart from this, in 2022 and 2024 also, Singtel had raised 3.5 billion Singapore dollars by selling shares of Airtel.
Airtel second quarter results
Bharti Airtel this week has reported profit growth for the sixth consecutive quarter. This happened because users are switching to more profitable 4G and 5G plans and the number of new users is also continuously increasing. In the quarter ended September 30, the company’s total profit increased by 89% to Rs 6,792 crore. Airtel’s average revenue per user, which is an important figure in the telecom sector, increased by 10% to Rs 256 compared to last year. An increase of 8.4% has also been recorded in the number of 4G and 5G users.
Airtel share price today
Today Airtel shares opened at Rs 2,048.60 on BSE. Till now the share has made a high of Rs 2,049.50 while its low is Rs 1997.60. If we look at the current rate, the company’s stock has fallen by about Rs 82.40 and has come to Rs 2012.20. Laxmishree Research Head Anshul Jain said that the stock saw a sharp decline due to heavy trading, which is a clear indication of selling pressure. The increase of more than 1126% in turnover shows that there has been participation of big investors in it. That is, this is not just a nervousness of retail investors, but a sign of change on a larger scale.