 "Bhart Airtel MD sells 50,000 shares of company")
Bharti Airtel MD and CEO (International) Manoj Kohli has sold 50,000 shares in the company for Rs 1.81 crore in the open market.
According to a regulatory filing, Kohli sold 50,000 shares in Bharti Airtel worth Rs 18,115,276 on November 1, 2013, through market sale on NSE.
The buyer of the shares could not be immediately ascertained.
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Post the transaction, Kohli holds 225,739 shares, which constitute of 0.01% stake in the company, the filing added.
The top official sold the equity shares through HSBC Securities and Capital Markets (India) Private Ltd.
The deal was intimated to the company on November 5, 2013.
Manoj Kohli joined Bharti Airtel in 2002. He leads the international strategy & vision and is also responsible for leading the Africa operations (17 countries), which Bharti Airtel acquired in June 2010. He is also responsible for leading the Sri Lanka and Bangladesh operations.
Last week, the company had reported 15th consecutive quarter of fall in profits with a 29% slump in its net profit at Rs 512 crore for the quarter ended September 30, 2013, mainly due to increase in finance cost and forex losses.
The company had posted a net profit of Rs 721.2 crore for the same period in last financial year.
Shares of the company ended at Rs 359.65 apiece, down 1.56% on the BSE.