Bharti Airtel dropped 4.15% to Rs 493 at 14:05 IST on BSE after report suggested that multiple block deals were executed in the counter on both BSE as well as NSE.
Meanwhile, the S&P BSE Sensex was down 114.33 points or 0.34% at 33,256.43.
Huge volumes were witnessed on the counter. On the BSE, 27.15 crore shares of Bharti Airtel were traded on the counter so far as against the average daily volumes of 32.66 lakh shares in the past one quarter. The stock had hit a high of Rs 506.85 and a low of Rs 480 so far during the day. The stock had hit a 52-week high of Rs 565 on 3 November 2017. The stock had hit a 52-week low of Rs 283.95 on 9 November 2016.
The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
According to reports, Qatar based Three Pillars PTE LTD offloaded its entire holding in Bharti Airtel through a block deal. Qatar Foundation Endowment's affiliate Three Pillars, which had invested about $1.26 billion in 2013 in company has put up about 19.9 crore shares for sale in a price range of Rs 473-490 each, as per reports. Three Pillars had 5% stake in the firm as per the shareholding pattern as on 30 September 2017.
Meanwhile, Bharti Airtel on 7 November 2017 announced 'Data Rollover' facility for its home broadband customers. With this, all unused monthly data will be carried forward and added to the data benefit of the next billing cycle, further enhancing the value proposition for customers. Customers can accumulate up to 1,000 GB data and easily track their usage and balance data available on MyAirtel App.
George Mathen, CEO - Homes, Bharti Airtel, said that with this innovation, the company's home broadband users no longer have to worry about their unused data, which will always be available to them. Home broadband continues to drive the massive growth of in-home consumption of online content and the combination of Airtel V-Fiber and 'data rollover' will enable a truly world-class experience for today's digital homes," George Mathen said. The announcement was made after market hours yesterday, 7 November 2017.
Bharti Airtel's consolidated net profit fell 63.7% to Rs 586.10 crore on 11.7% decline in net sales to Rs 21776.90 crore in Q2 September 2017 over Q2 September 2016.
Bharti Airtel is a leading global telecommunications company.
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