Bharti Airtel shares fall over 3 pc


PTI | New Delhi | Updated: 26-11-2019 11:40 IST | Created: 26-11-2019 11:18 IST
Bharti Airtel shares fall over 3 pc
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Bharti Airtel shares fell over 3 percent on Tuesday after Icra downgraded the company's long-term rating due to higher provisioning in its latest quarterly results following the Supreme Court judgment on AGR and spectrum charges. The stock fell 3.41 percent to trade at Rs 435.90 on the BSE.

On the NSE, the scrip slumped 3.46 percent to Rs 435.75. Icra on Monday downgraded the company's long-term rating to AA- while reaffirming the short-term rating at A1+.

"The revision in the long-term rating factors in the recognition of higher than anticipated provision pertaining to the Supreme Court judgment on dues payable towards license fees on adjusted gross revenues (AGR) as well as spectrum usage charge in the latest quarterly results," the rating agency said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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