Bharti Airtel hits 52-week low; stock falls 35% in thus far 2018

Bharti Airtel hit 52-week low of Rs 345, down 4%, trading at its lowest level since May 10, 2017 on the BSE.

Shares of Bharti Airtel hit 52-week low of Rs 345, down 4% on the BSE, on concerns of weak earnings for the quarter ended June 2018 (Q1FY19).

The stock of telecom services provider was trading at its lowest level since May 10, 2017. Thus far in the calendar year 2018, Bharti Airtel underperforming the market by falling 35% as compared to 7.3% rise in the S&P BSE Sensex.

Bharti Airtel is likely to report its first quarter of net loss of Rs 1.1 billion in Q1FY19, with a continued decline in EBITDA (-4% QoQ), according to analyst.