Bharti Airtel share price slumps nearly 3%

Bharti Airtel share price dropped by almost 3% during Friday's trading session following reports of block deals. A 1.3% equity stake in Bharti Airtel was sold through large transactions. Approximately 3.1 crore shares were exchanged at an average price of ₹1,820 each, which represents a 3.6% discount compared to the closing price on Thursday, as reported by CNBC-TV18. Singtel, based in Singapore, is believed to have reduced its stake in the telecom company via its investment arm, Pastel. This transaction, which is valued at nearly ₹8,570 crore, includes a 60-day lock-up period that prevents any further share sales during that time. According to media reports, Pastel owned a 9.49 percent stake in Bharti Airtel as of the March quarter. JPMorgan is serving as the broker for this deal.