Bharti Airtel share price drops 4% on NBFC expansion plans; biggest intraday fall in 3 months

Bharti Airtel, India’s second-largest telecom provider, witnessed its shares decline nearly 4% in intraday trade on Tuesday, February 24, touching the day’s low of ₹1,921 apiece. The stock was last seen around these levels in early February. The fall also marks its steepest intraday decline in three months.

Investors reacted negatively to the company’s proposal to strengthen its Non-Banking Financial Company (NBFC), Airtel Money Limited, through substantial capital infusion.