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Bharti Airtel shares tumble over 2% after large trade

Shares of Bharti Airtel Ltd. declined on Tuesday after 0.2% equity, or 95.5 lakh shares, changed hands in a large trade, according to Bloomberg data.

The large trade took place at Rs 860.95 per share. The buyers and sellers were not known immediately.

Airtel’s stock was trading 1.94% lower at Rs 853.5 apiece compared to a 0.23% advance in the benchmark NSE Nifty 50 at 9:45 a.m. The stock declined as much as 2.51% to an intra-day low of Rs 848.50 apiece.

It has risen 5.92% on a year-to-date basis. The total traded volume stood at 54 times its 30-day average. The relative strength index was at 39.5.

Out of the 32 analysts tracking Airtel, 25 maintain a ‘buy’ rating on the stock, three recommend a ‘hold’ and four suggest ‘sell’, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 13.9%. Bloomberg

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