Airtel shares down 2% after telco’s internet services face outage

Shares of Bharti Airtel fell as much as 2 per cent after the company acknowledged that its internet services were down for a while on Friday. It recovered slightly after the services were normalised.

“Our internet services had a brief disruption and we deeply regret the inconvenience this may have caused you,” Airtel India said in a tweet. “Everything is back as normal now, as our teams keep working to deliver a seamless experience to our customers.”

Airtel customers were complaining on social media since morning that their broadband connection as well as mobile internet faced disruption.

Bharti Airtel is a crowd favourite on Dalal Street, with most analysts recommending to buy the stock. As many as 13 analysts have ‘strong buy’ ratings, while another 13 have ‘buy’ calls, according to data compiled by Refinitiv. Only one analyst has a ‘sell’ call, while two recommend ‘hold’.

Thirty analysts tracking the stock have a median target price of Rs 859 on Bharti Airtel, meaning a potential upside of 20 per cent from current levels. The highest estimate pegs it at Rs 950 in a year while the lowest at Rs 677.

Bharti Airtel shares were trading at Rs 716, down over a per cent in afternoon session.