Bharti Airtel’s share today registered a new low as it traded below Rs 249 in National Stock Exchange (NSE) at around 11.30 AM. The company recently registered a decline in profit for 10th consecutive quarter.
Investment banker Morgan Stanley also downgraded Bharti Airtel stock to 'equal-weight' from 'overweight'. The banker also cut the target price for the stock to Rs 280 from Rs 366 earlier.
Telecom experts believe that the company will face financial difficulty for at least another ten quarters as its Africa losses are increasing and the ARPU’s are decreasing in India. The company will also be burdened with fresh debt as it will have to pay for excess spectrum that it holds beyond its contractual limit.