Bharti Airtel share price slumps over 3% amid reports of ₹10,300 cr block deal; Singtel likely seller

Airtel share price: Telecom major Bharti Airtel's shares fell by over 3% during Friday's trading session, amid a likely block deal in the counter today, November 7. Several media reports had indicated Singapore Telecommunications (Singtel) is planning to conduct a block deal to sell about 0.8% of its shares in the Indian telecom company.

A CNBC-TV18 report suggested that 5.1 crore shares of Airtel changed hands today.

Pastel, a promoter group entity owned by Singapore’s Singtel, plans to sell shares of Bharti Airtel, according to various reports. This transaction, valued at approximately ₹10,300 crore, is set to take place at a minimum price of ₹2,030 per share, reflecting a 3.1% discount from Bharti Airtel's most recent closing price, according to reports.

Previous reports have suggested that Singtel plans to divest approximately 0.8% of its interest in the Indian telecom firm. As per reports, this move is considered a part of Singtel’s larger restructuring plan aimed at optimising its investments in regional telecom operations.

Singtel has been gradually reducing its stake in Bharti Airtel to free up capital and concentrate on its primary business sectors. Earlier this May, the company disposed of shares valued at 2 billion Singapore dollars.

Additionally, in 2022 and 2024, Singtel secured a total of 3.5 billion Singapore dollars through the sale of shares in Airtel.

Bharti Airtel Q2 results

Bharti Airtel announced its sixth consecutive quarterly profit increase earlier this week, driven by users transitioning to more profitable 4G and 5G plans along with steady growth in subscriber numbers.

For the quarter ending September 30, its consolidated net profit surged by 89% to ₹6,792 crore.

Airtel’s industry-leading average revenue per user (ARPU) — an important metric in the telecom sector — increased by 10% compared to the previous year, reaching ₹256 for the quarter, while the total number of 4G and 5G users in their base grew by 8.4%.

Bharti Airtel share price today

Bharti Airtel share price today opened at ₹2,048.60 apiece on the BSE. The stock touched an intraday high of ₹2,049.50 and an intraday low of ₹2,000.25 per share.

Anshul Jain, Head of Research, Lakshmishree, said that Bharti Airtel's share price opened with a sharp gap-down on heavy volumes — a clear sign of selling pressure. The spike in volume, over 1126%, signals broad-based institutional participation, suggesting that this isn’t just retail panic but a structural move.

“The stock has broken below its 10- and 20-day EMAs, hinting at a premature breakdown and short-term weakness. In the near term, the initial and local target stands around the swing high of ₹1,940,” said Jain.

Given the intensity of volume-led selling, Jain advises that it’s prudent to avoid fresh long positions and consider locking in profits to protect gains.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.