Telecom shares led by Bharti see good run

DALAL STREET SPIKES

Renewed interest in telecom counters helped the shares of telecom companies end up on Monday. MTNL closed up 11.60 per cent at Rs 166.50, Bharti Televentures closed 12.25 per cents up at Rs 227.85, a new high, Tata Teleservices rose to Rs 33.65 and VSNL closed up 15.10 per cent to Rs 246.35. The stocks also reported good volumes.

A lot of expectations is being built up in the telecom sector as this is expected to be the next growth driver in the economy. Tata Tele is one such company that has gained from the all-round optimism.

MTNL will be rolling out its broadband services in Mumbai and Delhi from January 15. This is expected to boost its subscriber base.

The merger with BSNL has also acted as a major boost for the company's valuations as the merger will increase its reach to the currently unrepresented areas.