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Airtel shares fall 2% on ₹12,500cr block deal: What's next
Bharti Airtel's stock dropped a little over 2% on Friday after nearly 1% of its shares—worth a massive ₹12,563 crore—were sold off by a promoter group linked to Sunil Mittal.
Even with this dip, most market analysts aren't too worried about Airtel's future.
Analysts expect the stock to bounce back soon
The shares were sold at a slight discount, leading to a quick drop in price. But the company is still looking solid financially: it reported strong cash flow and has been cutting down debt.
Big names like Morgan Stanley and CLSA are sticking with their positive outlooks for Airtel, expecting the stock to bounce back soon.