Airtel shares fall 3.5% after Singtel sells stake worth ₹10,300cr
Bharti Airtel's shares slipped 3.5% on Friday after Singapore's Singtel sold 0.8% of its stake through a big block deal, offloading about 5.1 crore shares for ₹10,300cr at a slight discount.
Singtel's move is part of its investment strategy
Singtel is reshuffling its investments to focus more on fast-growing areas like 5G and digital services in Asia, but it's still holding onto an 8.3% stake in Airtel—so it's not jumping ship.
Moves like this can shake up the market short-term and open doors for new investors.
Airtel's long-term growth story remains intact
Even with the share dip, Airtel is doing well: profits jumped 89% year-on-year last quarter and revenue is up thanks to strong performance in India and Africa.
Most analysts see this as just a quick blip, expecting more growth ahead from things like tariff hikes and broadband expansion.