Click it and Unblock the Notifications
Shares of the Bharti Airtel plunged for the second day after Goldman Sachs and Standard Chartered downgraded their ratings after Bharti disappointed the streets with its Q1 2013 numbers.
The company's net profit declined by 37% to Rs 762.2 crore against Rs 1,215.2 crore for the corresponding period of previous quarter on adverse regulatory and tax issues impacting the operating profits.
Goldman Sachs downgraded the stock to "neutral" from "buy" and revised target price of Rs 270.
Standard Chartered cut Bharti to "in-line" from "outperform" and cut its target price to Rs 300 from Rs 380 and said that delay in the 2G spectrum will have an impact on the profitability among other risk factors.
On Wednesday, shares of the company had fallen 6.6% after its poor results.
The shares of the company were seen trading lower by 6.2% at Rs 257 at 3.00 pm IST. It had touched intra-day low of Rs 257.50.
GoodReturns.in
More From GoodReturns
Indane, HP & Bharat Gas Cylinder Booking Rules: OTP Mandatory After LPG Refilling Gap Increased to 25-45 Days
Crash in Gold Rate in India by Rs 71,400 in Single Day; Will Gold Price Today Fall Below Rs 1.50 Lakh? Outlook
Gold & Silver Rates Today Live: MCX Gold Crashes By Rs 5,645, Silver Falls By Rs 16,540; 24K, 22K, 18K Gold
1:5 Split Soon? Vedanta Ltd To Consider 3rd Interim Dividend On March 23, Share Jumps; Record Date & Buy Call
Sleeper Vande Bharat Express New Routes Identified for Long Distance Travel
Gold & Silver Rates Today Live Updates: Will 24 Carat, 22 Carat, 18 Carat See Bullish Week Ahead?
Mega Gold Price Crash Alert! 24K Sinks Rs 1.36 Lakh/100 Gm In Week; Silver Sees Losses | March 23-27 Outlook
Gold & Silver Rates Today Live: MCX Gold Ends Above Rs 1.40 Lakh, Silver Up 1%; 24K, 22K, 18K Gold On March 24
Gold Rate Crashes Over Rs 1 Lakh in Single Day, Slips to Lowest Since January; Will Gold Price Today Decline?
Gold Price Crash May Fuel Jewellery Demand: Why Kalyan Jewellers Share Price Could Shine Despite 5% Dip
Fatal Crash In Gold Rates In India By Rs 1,03,200/100 Gm; Biggest Single-Day Fall In 24K, 22K, 18K Gold Prices
Sign in with Google