 "Bharti Airtel slips after DoT imposes Rs 79,000 penalty; check details here")
Bharti Airtel shares slipped 1.2 per cent in Monday's trade and recorded an intraday low at Rs 1,661.55 per share on BSE. The stock declined after The Department of Telecommunications, Delhi (DoT) imposed a Rs 79,000 penalty on the telecom major. On NSE, 2.205 million shares changed hands while, on BSE 0.08 million shares were traded.
Around 11:32 AM, Bharti Airtel share price was down 1.04 per cent at Rs 1664.5 per share on BSE. In comparison, the BSE Sensex was down 0.52 per cent at 81,703.91. The market capitalisation of the company stood at Rs 9,47,620.17 crore. The 52-week high of the stock was at Rs 1,778.95 per share and the 52-week low was at Rs 959.8 per share.
Bharti Airtel received a notice from DoT for alleged violation of subscriber verification norms and was penalised Rs 79,000 for violation.
"Alleged violation of terms and conditions with respect to subscriber verification norms under the License Agreement, pursuant to Sample CAF Audit conducted by DoT for August, 2024," the filing read. The maximum financial impact is to the extent of the penalty levied, the filing added.
Bharti Airtel is a major Indian multinational telecommunications company founded by Sunil Bharti Mittal in 1995, headquartered in New Delhi. It is one of the largest telecom operators in India and operates in 18 countries across South Asia and Africa, serving over 550 million customers.
Airtel provides a wide range of services, including mobile voice and data services (2G, 3G, 4G, and 5G), fixed-line broadband, digital television (Airtel Digital TV), and enterprise solutions. The company is recognized for its strong network infrastructure, customer service, and continuous innovation in offering affordable and high-speed internet services.
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The telecom company has been a leader in launching 4G services in India and is expanding its 5G capabilities. Its market capitalisation is substantial, reflecting its dominant position in the telecom industry.
In the past one year, Bharti Aitel shares have gained 69.3 per cent against Sensex's rise of 15 per cent.