The stock opened on a negative note and slided more than 6% in today’s trade session. The stock also fell steeply as the government suspends company’s e-KYC license.
The shares of Bharti Airtel fell today after the company said that Unique Identification Authority of India has served an interim order to the company and subsidiary Airtel Payments Bank. The order directs suspension of the e-KYC license key of the company and its subsidiary, effective immediately.
The company said that it will engage with the Unique Identification Authority of India to resolve the matter at the earliest.
Also, anxiety among investors abated as the incumbent BJP regained its lead in Gujarat assembly elections, leading to a drop in India VIX. Domestic shares came off their 2% lows, as investors heaved a sigh of relief. The volatility index had surged to its 52-week high after vote count trends showed Congress in lead briefly, but gave up gains later.
The stock is trading at a price of Rs519.05, up by 0.21%, on NSE at 10.04am.
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