Bharti Airtel shares recover after early losses
After early losses, shares of Bharti Airtel Tuesday recovered lost ground to close almost flat at Rs 307.85 apiece on the BSE.
The scrip had declined over 4 per cent during the day after Moody's Investors Service downgraded the credit rating of the telecom operator.
Shares of the company ended day almost flat on the BSE and the NSE.
On the NSE, the scrip closed at Rs 307.00 apiece.
"Moody's has downgraded to Ba1 from Baa3 the senior unsecured rating for Bharti Airtel as well as the backed senior unsecured notes issued by Bharti's wholly-owned subsidiary, Bharti Airtel Int'l (Netherlands) BV," the Moody's Investors Service said in statement.
Ba1 rating means obligations are subject to substantial credit risk.