Bharti Infratel falls 5% after huge block deals

The stock dipped 5% to Rs 380 on BSE in early morning deal.

Bharti Infratel has dipped 5% to Rs 380 on BSE in early morning deals, after more than 3% of the total equity of telecom services provider changed hands in multiple block deals.

Till 09:51 am; around 77.9 million equity shares, representing 4.2% of total equity of Bharti Infratel have changed hands on the BSE, the exchange data shows.

The name of the buyers and sellers were not ascertained immediately.

According to PTI reports, Bharti Airtel, the promoter of Bharti Infratel is to be in the process to offload a 3.7% stake in the company for about Rs