Bharti Airtel worries as Ambani rings in

Bharti Airtel is currently the top loser on the BSE. The stock is down over 2% at Rs.286.20, after having hit an intra day low at Rs.283.80, with more sellers than buyers dotting the counter.

The stock along with Idea are amongst the top losers currently and this can be blamed entirely on the Ambani brothers. The Rs.1200 crore deal between the two brothers marks a complete shakeup in the Indian telecom sector. A sector which was hitherto dominated by Airtel, Idea and Vodafone, will now a formidable competitor in the Ambani telecom company. Such increased competition at a time when they are as such fighting regulatory legal battles  and huge spectrum payout bills, the market is worried that this competition from the Ambani’s could trigger the end of their fiefdom.