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Shares of telecom services providers such as Bharti Airtel, Idea Cellular, Reliance Communications and Tata Teleservices (Maharashtr) have rallied by up to 10% on the bourses in otherwise subdued market.
Bharti Airtel has surged 10% to Rs 379 on the National Stock Exchange (NSE) on back of heavy volumes. The stock opened at Rs 343 and touched a high of Rs 382 so far.
A combined 5.96 million shares changed hands on the counter till 1254 hours against an average sub 4 million shares that were traded daily in past two weeks on NSE and BSE.
According to PTI reports, telecom major Bharti Airtel plans to double its 4G network by next fiscal as it gears up to take on competition, including the much-awaited foray of Mukesh Ambani-led Reliance Industries group.
Meanwhile, according to reports, the government is set to surpass its revenue estimates from the spectrum auction, as the assured revenue from the spectrum sale on Monday reached Rs 94,000 crore. CLICK HERE TO READ FULL REPORT.
Among the other individual stocks, Idea Cellular rallied 9% to Rs 162, Tata Teleservices Maharashtra (8% at Rs 9.24) and Reliance Communications (6% at Rs 67) on the NSE.
Bharti Airtel has surged 10% to Rs 379 on the National Stock Exchange (NSE) on back of heavy volumes. The stock opened at Rs 343 and touched a high of Rs 382 so far.
A combined 5.96 million shares changed hands on the counter till 1254 hours against an average sub 4 million shares that were traded daily in past two weeks on NSE and BSE.
According to PTI reports, telecom major Bharti Airtel plans to double its 4G network by next fiscal as it gears up to take on competition, including the much-awaited foray of Mukesh Ambani-led Reliance Industries group.
Meanwhile, according to reports, the government is set to surpass its revenue estimates from the spectrum auction, as the assured revenue from the spectrum sale on Monday reached Rs 94,000 crore. CLICK HERE TO READ FULL REPORT.
Among the other individual stocks, Idea Cellular rallied 9% to Rs 162, Tata Teleservices Maharashtra (8% at Rs 9.24) and Reliance Communications (6% at Rs 67) on the NSE.
