Bharti surges on talk of hike in FDI in telecom

Dalal Street Spikes

 The counter surged up on reports that the Centre may hike foreign direct investment limit in the telecom sector, market sources said.

 Foreign investment in Bharti Tele stands at 47.25 per cent as on 30 September 2003. Players believe that the rise in FDI limit would help Bharti Tele expand further.

 The rise in the scrip was also on the back of reports that the apex court had admitted a plea from cellular companies challenging the TDSAT verdict, which allowed basic operators to offer full mobility using code division multiple access (CDMA) technologies.