Bharti Airtel drops 2.1% to a 52-week low

The stock traded on a 52-week low at Rs 308.20 on Wednesday. It has been trading 52-week low since Tuesday

Bharti Airtel dropped 2.1 % at Rs. 310.95 after the opening bell. The stock traded on a 52-week low at Rs 308.20 on Wednesday. It has been trading 52-week low since Tuesday.

Country's largest telecom operator recently announced that it will soon launch 4G services in Rajasthan. However, the launch of Vodafone 4G on Tuesday and the proposed entry of Reliance Jio Infocomm into the 4G LTE space is said to start a fierce competition between the top telecom operators.

The scrip opened at Rs. 318 and has touched a high and low of Rs. 318 and Rs. 308.2 respectively. So far 734277(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 126997.4 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 452.45 on 21-Jul-2015 and a 52 week low of Rs. 315.5 on 08-Dec-2015. Last one week high and low of the scrip stood at Rs. 326.5 and Rs. 315.5 respectively.

The promoters holding in the company stood at 65.45 % while Institutions and Non-Institutions held 25.6 % and 8.95 % respectively.

The stock is currently trading above its 200 DMA.