Bharti Airtel’s stock price has dipped in the afternoon session of the market. Despite good results in June 2021, the stock’s price is trading almost 1% down at Rs 614.85. Bharti Airtel’s stock opened at Rs 622.35 on Wednesday morning, but it has come down to Rs 614.85 at the time of writing this. The telco’s stock also touched Rs 611, which was the lowest for the day. Airtel’s opening price of Rs 622.35 was also its highest for the day. At the same time, other telecom stocks, including Vodafone Idea and Reliance Industries Limited (RIL), which is the parent of Jio, are trading on the green.
Bharti Airtel Stock Going Down Might Mean People Are Booking Short-Term Profits
All the good news related to the telco had pumped the stock up. This might have led to a number of investors booking short-term profits/gains. Because of this, the stock might have come down today.
Regardless of today, analysts have a positive outlook on the growth of Bharti Airtel and believe that its share prices will also cross Rs 800 on the back of Vi’s loss. Vodafone Idea’s stock is trading at 0.80% in the green, and RIL’s stock is trading at 1.22% in the green as of the time of writing this.
Vi’s current stock price is Rs 6.30, and RIL’s stock price is Rs 2,209. There’s no saying what has caused the growth spurt for both the telcos. Especially Vi, which is trading higher even when the promoters of the company don’t want to infuse any more capital in the company.
As for the case of RIL, there can be multiple reasons why its stock is going upwards because the company owns a ton of subsidiaries, including India’s number one telecom operator Reliance Jio. The telecom stocks are expected to rally upon the announcement of a relief package from the government.
