Shares of Bharti Airtel fell over 1 per cent on the Bombay Stock Exchange, paring previous session gains, amid profit booking after the telecom major said that it has partnered with Karbonn Mobiles to launch affordable 4G-enabled smartphones at market price of Rs 1,399. The move is a part of the company’s strategy to counter the competition unleashed by Mukesh Ambani-led Reliance Jio's launch of a low-priced feature phone. Weighed down by profit booking, shares of the company declined as much as 1.46 per cent to trade at intra-day low of Rs 397.50 apiece on the Bombay Stock Exchange.
In a similar fashion, shares of the company were trading 1.38 per cent lower at Rs 398.00 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,967.47, up 133.48 points, or 0.42 per cent, at 11:05 hours.