Money on the markets

Bad year for telecom counters

Kshitij Anand

Dec 31, 2009 13:29 UTC

Telecom stocks had a bad year with top counters such as Bharti Airtel and Reliance Communication slipping 8 and 23 percent respectively in 2009.

The overall market however gained as much as 80 percent during the year.

The Sensex ended 81 percent higher at 17465 and gained more than 7,000 points, its biggest yearly gain since 1991.

A price war among telecom operators discouraged investors as there were concerns about future profitability of such companies.

MTNL was another telecom stock that ended the year in the negative, slipping nearly 7 percent. Stocks such as Idea Cellular gained 6.7 percent and Tata Tele rose 23 percent.

ITI shares jump

Kshitij Anand

Dec 24, 2009 11:56 UTC

Telecom gear maker ITI Ltd jumped after the government extended until September 2010 a requirement for state-run telecoms to source 30 percent of equipment orders from it.

Shares in the counter jumped almost 17 percent to a 52-week high of 53.20 rupees before ending 11.2 percent higher at 50.65.

Telecom shares rise

Kshitij Anand

Dec 10, 2009 11:41 UTC

Shares of telecom firms rose on Thursday after the RBI allowed telecom firms to access oversees markets to fund their bids for 3G spectrum.

The big names that led the rise were Bharti Airtel (up 3.4 percent to 342.35 rupees), Reliance Communications (up 2.1 percent higher at 185.70 rupees) and IDEA (up 4.1 percent higher at 60.20 rupees)

Bharti Airtel struggles in trade

Aditya Kalra

Nov 10, 2009 12:14 UTC

Shares in Bharti Airtel, India’s top mobile operator, dropped over 4 percent on Tuesday as a bleak outlook for the sector hit telecom shares.

Losses in Bharti, the top Sensex loser, also weighed on the Sensex which closed down around 60 points.

Bad day at the bourses for Bharti Airtel

Aditya Kalra

Oct 5, 2009 12:40 UTC

Shares of Bharti Airtel, India’s top mobile operator, slipped 8 percent on Monday and ended as the top Sensex loser.

Bharti shares closed down rupees 34.85 at 400.25 with volumes of over 6 million on the BSE, making it one of the most traded counters.

Will you buy Bharti Airtel shares?

Aditya Kalra

Aug 21, 2009 11:40 UTC

Shares in Bharti Airtel gained 2.8 percent on Friday, contributing well to the benchmark’s gain of over 200 points on the last trading day of the week.

The company is in exclusive talks for a stake in South Africa’s MTN, a deal which will create the world’s No. 3 mobile firm. On Thursday, the two firms said they were extending talks till Sept. 30, their second such extension this year.