Bharti Airtel hits seven-month low in a strong market; down 20% in 1 month

The board of Bharti Airtel is schedule to meet on October 27, 2020 to consider the audited financial results for the second quarter ended September 30, 2020

Shares of Bharti Airtel were under pressure on Monday, hitting a seven-month low of Rs 394 on the BSE, in an otherwise weak market. The stock of the telecom services provider slipped 2 per cent in the intra-day trade and was trading at its lowest level since March 19, 2020.

In the past one month, the stock has slipped 20 per cent, as compared to 3.8 per cent rise in the S&P BSE Sensex. Notably, Bharti Airtel's share price has declined sharply, by around 30 per cent, since the Adjusted Gross Revenue (AGR) verdict on September 1, 2020.

Analyst at Dolat Capital