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Airtel disappoints. Markets trade flat.

Bharti Airtel, India’s largest telecom company, has disappointed the street with a tepid set of results for the Q1. The Net profit of the company has dipped by 24.23% on a QoQ basis to Rs 762.2 crore during the first quarter, as against the expectation of around Rs 1,075 crore.

The stock of Bharti has reacted to the results. The stock is down by 1.5%.

Markets have opened flat, in the wake of the CLSA cutting India’s GDP forecast. The Sensex is up by 30 points while the Nifty is up by 17 points or 0.3%.

ICICI Bank, RIL, Infosys and SBI were all trading in the green.
All the metal stocks have been trading in the green. Jindal steel, SAIL, Hindalco and Coal India have been the top gainers on the Index.
GAIL, TCS and Tata Power are among the losing list.



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