Airtel foreign ownership puzzle stumps investors again, stock sheds gains

Jump in user base and margin improvement helped stock end with a gain of 3.3% in a falling market. Nevertheless, it shed 8.3% from day's high of Rs 488 to end at Rs 448

Confusion surrounding foreign ownership in Bharti Airtel caught traders on the wrong foot on Wednesday — the second such instance. 

In early trade, shares of the telecom operator jumped as much as 12.6 per cent — the most in six months — buoyed by a strong September quarter and buzz that the overseas investment limit had been hiked to 100 per cent.  Jump in the user base, along with margin improvement, helped the stock close the session with gains of 3.3 per cent in a falling market. Nevertheless, it fell 8.3 per cent from day’s high of Rs 488 to end