Post-Budget re-rating lifts Bharti Tele-Ventures

DALAL STREET SPIKES

The stock appreciated by more than 5 per cent to close at Rs 235.95 on Wednesday. The counter witnessed impressive volumes of over 33.3 lakh shares on the BSE with the stock hitting an intra-day high of Rs 240.70.

Market sources said that domestic broking firms have put a buy call on Bharti Tele post-Budget.

A sector analyst said, "the removal of customs duty on telecom equipment under the information technology agreement will help companies such as Bharti Tele to reduce capital costs."

Excluding the mobile ownership from the "1/6" for filing income-tax return is also expected to boost the sentiment at the counter. The counter witnessed impressive volumes of over 1 crore shares on the National Stock Exchange (NSE).