Shares Of Bharti AIrtel Are Down Over 4 Percent As Investors Turned

Shares of Bharti AIrtel are down over 4 percent as investors turned cautious of a ratings downgrade.

Moody’s Investor Service has downgraded the company to junk rating, BloombergQuint reported, based on concerns that cash flow could continue to be under pressure.

Shares of IRB Infrastructure Developers slipped 8 percent despite company posted 5.5 percent jump in its third quarter net profit at Rs 218.9 crore against Rs 207.3 crore in a year ago period. 

Citi has maintained sell call on the stock and cut target to Rs 139 from Rs 185 per share.

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