Bharti Airtel: UBS downgrades the telecom stock to ‘sell’ after a 20% YTD rally. Is a trend reversal on cards?
Bharti Airtel share price dropped over 2 per cent in intraday trade on the BSE on Friday, July 11. The telecom stock opened at ₹1941 against its previous close of ₹1965.10 and dropped over 2 per cent to an intraday low of ₹1,917.45. Around 12:45 PM, Bharti Airtel share price traded 2.24 per cent down at ₹1,921.05, looking set to extend losses to the third consecutive session.
Bharti Airtel share price trend: Solid outperformance
Despite the recent weakness, Bharti Airtel’s share price has seen significant gains of over 20 per cent year-to-date (YTD) compared to a 5 per cent rise in the equity benchmark Sensex.
Even in a slightly longer timeframe of the last one year, shares of the telecom heavyweight have jumped almost 34 per…
