Mumbai: Shares of Bharti Airtel fell by about 4.48 per cent in intra-day trading on Friday, hitting a low of ₹2,001, after around 5.1 crore shares changed hands in a major block deal, with Singapore Telecommunications (Singtel) believed to be the seller.

The transaction reportedly took place at a floor price of ₹2,030 per share, representing a 3.1 per cent discount to Airtel’s previous close of ₹2,095. According to reports, Singtel was expected to offload around 0.8 per cent of its stake in the telecom giant.

The deal, estimated to be worth around ₹10,300 crore, was managed by JP Morgan India, which acted as the sole broker and contacted several institutional investors to build the book for the transaction, according to the term sheet.

This marks Singtel’s second sale of Bharti Airtel shares this year. In May, the Singapore-based firm sold a 1.2 per cent stake in the company for roughly $2 billion at ₹1,814 per share. Following that sale, Airtel’s share price climbed about 15 per cent to ₹2,095.

Over the past month, Bharti Airtel shares have gained ₹71, or 3.68 per cent, and have risen ₹404, or 25.34 per cent, so far this year.

For the July–September quarter of FY26, the telecom major reported an 89 per cent year-on-year jump in consolidated net profit, reaching ₹6,791 crore compared to ₹3,593 crore in the same period last year, according to its stock exchange filing.

Consolidated revenue from operations grew 25.7 per cent year-on-year to ₹52,145 crore, up from ₹41,473 crore in Q2 FY25, driven by strong growth in its mobile and data services segments.

IANS