Stock market update: Telecom stocks up, but Bharti Airtel, Idea Cellular on a shaky pitch
NEW DELHI: The BSE Telecom index was trading 0.85 per cent up at 1,157 around 12:50 pm on Monday with most stocks in the green.
Shares of Sterlite Technologies (up 6.19 per cent), GTL Infrastructure (up 4.20 per cent), Aksh Optifibre (up 3.93 per cent), GTPL Hathway (up 2.67 per cent), OnMobile Global (up 2.07 per cent) and GTL (up 2.06 per cent) were top gainers in the telecom index.
Tata Teleservices (Maharashtra) (up 1.79 per cent), Himachal Futuristic Communications (up 1.72 per cent), Vindhya Telelinks (up 1.40 per cent), Mahanagar Telephone Nigam (up 1.26 per cent), Reliance Communications (up 1.25 per cent), Tata Communications (up 1.13 per cent) and Bharti Infratel (up 1.09 per cent) were also witnessing decent traction in their shares.
Shares of ITI (up 0.51 per cent), Bharti Airtel (up 0.12 per cent) and Idea Cellular (up 0.09 per cent) were a little wobbly, while Tejas Networks (down 1.75 per cent) was suffering losses.
The Prime Minister's Office has sought details from the telecom department of the process being followed in the proposed Idea Cellular-Vodafone India merger amid delays in deal closure, ET reported, quoting people aware of the development.
Market was in the positive territory on buying in most sectors amid positive global cues.
Benchmark BSE Sensex was up 232 points at 35,890, while the NSE Nifty50 index was up 64 points at 10,837.
Among the 50 stocks in Nifty index, 42 were trading in the green, while 8 were in the red.
In the Sensex kitty, 28 stocks were advancing, while only 3- Tata Consultancy Services, IndusInd Bank and HDFC- were declining.
YES Bank, Axis Bank and Vedanta were leading among the Sensex gainers.
Shares of Sterlite Technologies (up 6.19 per cent), GTL Infrastructure (up 4.20 per cent), Aksh Optifibre (up 3.93 per cent), GTPL Hathway (up 2.67 per cent), OnMobile Global (up 2.07 per cent) and GTL (up 2.06 per cent) were top gainers in the telecom index.
Tata Teleservices (Maharashtra) (up 1.79 per cent), Himachal Futuristic Communications (up 1.72 per cent), Vindhya Telelinks (up 1.40 per cent), Mahanagar Telephone Nigam (up 1.26 per cent), Reliance Communications (up 1.25 per cent), Tata Communications (up 1.13 per cent) and Bharti Infratel (up 1.09 per cent) were also witnessing decent traction in their shares.
Shares of ITI (up 0.51 per cent), Bharti Airtel (up 0.12 per cent) and Idea Cellular (up 0.09 per cent) were a little wobbly, while Tejas Networks (down 1.75 per cent) was suffering losses.
The Prime Minister's Office has sought details from the telecom department of the process being followed in the proposed Idea Cellular-Vodafone India merger amid delays in deal closure, ET reported, quoting people aware of the development.
Market was in the positive territory on buying in most sectors amid positive global cues.
Benchmark BSE Sensex was up 232 points at 35,890, while the NSE Nifty50 index was up 64 points at 10,837.
Among the 50 stocks in Nifty index, 42 were trading in the green, while 8 were in the red.
In the Sensex kitty, 28 stocks were advancing, while only 3- Tata Consultancy Services, IndusInd Bank and HDFC- were declining.
YES Bank, Axis Bank and Vedanta were leading among the Sensex gainers.