Price war worries cloud Bharti Tele-Ventures

DALAL STREET SPIKES

Bharti Tele-Ventures continued to slide on selling pressure. The stock ended 2.2 per cent lower to Rs 137.15 on Wednesday on concerns that the price war in the mobile telephony segment may hit company's profitability.

BTL, on Tuesday, slashed call charges for its postpaid subscribers to match similar moves by rivals and widen its userbase in a hotly competitive market.

Bharti Tele stock has been on a decline of late. From Rs 158.50 on August 12, the stock has now lost nearly 14 per cent to Wednesday's close of Rs 137.15.

Hectic activity was witnessed at the counter with more than 6.27 lakh shares changing hands at this counter on BSE.

BTL, on Tuesday, announced that it has cut local call tariffs for postpaid customers by 50 per cent to Re 1 per minute. The counter witnessed huge volumes of more than 20.4 lakh shares on the NSE.