Telecom shares gain on July-Sept earnings; Tata Comm surges

Reuters Market Eye - Shares of telecom operators gain after July-Sept earnings results come in line with some analysts expectations.

Tata Communications Ltd gains 10 percent after it posted a consolidated net profit 803.6 million rupees for September-quarter compared to a net loss of 2,742 million rupees in the same quarter last year.

Bharti Airtel Ltd is up 3.8 percent after its September-quarter operating margins came at 32 percent, meeting some analysts estimates.

Separately, Piramal Enterprises , which owns about 11 percent of Vodafone India, gains 2 percent after Vodafone Group Plc sought approval from the authorities to raise its stake in the India unit for 101.41 billion rupees it said on Tuesday.

 

(Reporting by Abhishek Vishnoi)