Bharti Airtel trades down 2% after block deals on 0.2% equity

Around 1.1 crore shares, representing 0.2 percent equity, worth Rs 922.8 crore changed hands at an average price of Rs 852.9 per share on the bourses.

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Shares of Bharti Airtel dropped more than 2 percent on August 9 after around 1.1 crore shares, representing 0.2 percent equity, worth Rs 922.8 crore, changed hands in block deals at an average price of Rs 852.9 per share on the bourses.

Moneycontrol could not immediately ascertain the buyer and seller in the transaction.

At 9:46am, shares of the telecom company were trading 1.9 percent lower at Rs 853.9 on the BSE.

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The telecom company remains at the forefront of Mobile India Service Average Revenue Per User (ARPU), achieving a significant milestone of Rs 200 ARPU during the first quarter of FY24. This accomplishment is driven by sustained momentum in mobility, home services, and Airtel Business.

Kotak Institutional Equities believes that Bharti Airtel offers an appealing long-term risk-reward dynamic. There’s a potential upside of 38-42 percent if tariffs increase significantly, leading to an ARPU of Rs 300 by 2026, or in a scenario where there’s a duopoly. Conversely, there’s an estimated downside of around 24 percent if an improbable situation occurs where a well-funded strategic investor acquires Vodafone Idea.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.