Bharti Airtel Block Deal: Bharti Airtel shares today slipped nearly 3 per cent following a block deal wherein a promoter group company sole 1.2 per cent stake.
Airtel shares opened Rs 36.30 or 1.90 per cent lower at Rs 1886.30 on NSE against the previous close of Rs 1922.60. The counter made a low of Rs 18.63.30, down 3.10 per cent in early session.
At 10 AM, Airtel shares were seen trading at Rs 1864. As many as 9 crore shares of the telecom company changed hands on NSE around the same time.
Airtel shares are losing for the last 3 consecutive trading sessions. The counter is trading higher than 100-day and 200-day moving averages but lower than 5-day, 20-day and 50-day moving averages.
Airtel shares today fell sharply as , as Indian Continent Investment Ltd (ICIL), a promoter group entity, offloaded a 1.2 per cent stake in the company via a block deal. A total of 6.7 crore shares if Airtel are said to have changed hands in block. The details related to official parties involved in deal are not known yet.
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Indian Continent Investment Ltd is a shareholding entity led by Sunil Mittal.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
