Stocks

Bharti Airtel shares slip over 1 per cent on rating concerns

PTI Mumbai | Updated on December 03, 2019 Published on December 03, 2019

After hitting a 52-week high in the 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 at 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.

Published on December 03, 2019
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