Stocks-Bharti: Bharti Airtel shares surge on 3G roaming pact relief

Bucking an overall weak trend,shares of Bharti Airtel today gained nearly 4 per cent on reports that the Supreme Court has allowed 3G roaming pacts to continue till next date of hearing.

Written by Press Trust Of India | Mumbai | Published:April 8, 2013 9:40 pm

Bucking an overall weak trend,shares of Bharti Airtel today gained nearly 4 per cent on reports that the Supreme Court has allowed 3G roaming pacts to continue till next date of hearing.

The company’s scrip ended at Rs 281.20,up 3.90 per cent

on the BSE. During the day,the stock had jumped 5.13 per cent to Rs 284.55. At NSE,shares of the company closed at Rs 279.10,up 3.27 per cent from its previous close.

“The Supreme Court today granted interim relief to Bharti Airtel in the 3G roaming case which led to buying in the stock,” said Milan Bavishi,Head Research,Inventure Growth

and Securities.

Buying was also seen in other telecom companies,with Idea Cellular gaining 3.63 per cent and RCom ( 4.52 per cent).

The Department of Telecommunications (DoT) on March 15

had issued a notification restraining Bharti from providing 3G

intra-circle roaming facilities in seven circles where it did not have spectrum.

Meanwhile,in the broader market the BSE benchmark Sensex

fell for the fourth day and ended at 18,437.78,down 12.45

points.

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