Bharti Airtel gets regulatory approval for 100% FDI in subsidiaries
Shares of Bharti Airtel on the BSE closed at Rs 565.75 per share on Tuesday, higher by Rs 18.65, or 3.41 per cent, from its previous close.
Bharti Airtel shares plunged over 3 per cent on Thursday afternoon, a day after the telco posted a consolidated net loss of Rs 15,933 crore for the April-June quarter declined as the telco made additional provision for statutory dues. Airtel’s loss for the corresponding period last year (Q1 FY20) was Rs 2,866 crore.
The company had provided Rs 36,832.2 crore towards adjusted gross revenue dues it owes to the government.
The scrip opened at Rs 577 and touched an intraday high and low of Rs 579 and Rs 543.40 respectively, in the session so far. At 2.10 pm, shares of the company traded at Rs 549.30, up by Rs 17.10 or 3.02 per cent on the BSE.
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Similar trend was witnessed on NSE. The stock dipped 3.02 per cent to Rs 549.10.
Bharti Airtel’s revenue jumped 15.4 per cent to Rs 23,938.7 crore from previous Rs 20,737.9 crore during the same quarter year ago.
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