Bharti Airtel "out of order"

Bharti Airtel is down since Friday and today too, it remains streaked in red. The stock opened lower at Rs.306 and it dipped to an intra day low at Rs.301.20 and it currently remains at around the same levels.

On Friday, the DoT asked the company to stop its 3G services within 3 days in the 7 circles where it does not have the required license. It was also slapped with a penalty of Rs.50 crore per circle. Bharti had filed a petition against this decision of DoT in Delhi High Court and it is scheduled for a hearing today. This has kept its price under pressure and will remain so till this cloud lifts.