Bharti shares slump as Adani enters 5G race

After the confirmation from Adani Group over its entry into the telecom sector, the Bharti Airtel stock slumped over 5% on Monday. The company was also the biggest loser among the Sensex constituents and ended the day down 5.03% at Rs 660.95 on the BSE.

In contrast, investors bought shares of Vodafone Idea, which ended up 3.44% at Rs 8.72. Shares of Reliance Industries also closed up 1.33% at Rs 2,423.20 after being marginally down during the day.

Analysts said that since Bharti is the biggest player in the enterprise segment, Adani’s entry in this space through private network solutions may offer direct competition to it. Around 17-20% of Bharti Airtel’s mobile revenues come from the enterprise segment.