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Bharti Airtel shares slip over 1 pc on rating concerns

After hitting 52-week high in previous session, shares of Bharti Airtel on Tuesday fell over 1 per cent after Moody's said AGR dues are credit negative for the telecom operator. The stock was trading 1.32 per cent down to Rs 452.50 on the BSE. On the NSE, the stock declined 1.46 per cent to Rs 451.90.

PTI PTI
New Delhi Published on: December 03, 2019 12:53 IST
Bharti Airtel shares slip
Image Source : PTI

Bharti Airtel shares slip

After hitting 52-week high in previous session, shares of Bharti Airtel on Tuesday fell over 1 per cent after Moody's said AGR dues are credit negative for the telecom operator. The stock was trading 1.32 per cent down to Rs 452.50 on the BSE. On the NSE, the stock declined 1.46 per cent to Rs 451.90.

Adjusted gross revenue dues on Bharti Airtel are credit negative for the telecom operator despite a two-year moratorium given by the government on spectrum payment and the firm's plan to raise mobile call and data charges, credit rating agency Moody's Investors Service said on Monday.

According to data from the government, the liabilities in the case of Bharti Airtel add up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is the spectrum usage charge due (excluding the dues of Telenor and Tata Teleservices).

Meanwhile, shares of Vodafone Idea were trading at Rs 9.37 apiece, down 9.37 per cent on the BSE.

The stock slumped 9.62 per cent to Rs 7.05 on the NSE.

Also Read| Telecom stocks surge after tariff hike announcements

Also Read| Sensex up 280 points in early trade; Bharti Airtel jumps 8 pc, RIL 3 pc

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