Bharti Airtel shares slumped more than 6% for the second consecutive day to close at a six-year low after Goldman Sachs and other leading banks cut their ratings and downgraded the country’s top mobile phone company, following disappointing quarterly earnings.
The company, touted as the poster boy of India’s mobile revolution with more than 200 million customers in the country, has crashed almost 13% since Monday when it posted its tenth straight quarter of profit decline and declared earnings that were far below market expectations.
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