Bharti Airtel up 3% on 3G license hopes

Bharti Airtel has gained over 3% at Rs 310 on reports that the company has submitted an application for third-generation mobile services in all 22 services areas across India.

The government is reportedly offering three 3G licenses each in 17 areas and four slots each in the remaining five regions. But as there are more than four private-sector operators in most regions; competition may force these operators to bid strongly.

The 3G services, which are due to start from September 1, will allow high-speed content download and broadband services. The government is likely to garner Rs 35,000 crore from this auction.

Meanwhile, Bharti Airtel added 2.9 million mobile users in February against 2.85 million in January, taking its total mobile user base to 124.60 million.

Reliance Communication and Idea Cellular, which have also submitted applications for 3G mobile spectrum, have seen their shares appreciating more than a per cent each.