Bharti Airtel zooms 9% on huge volume

BSE 23 May 12 | 12:00 AM

281.95		-12.65 (-4.29%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 532454

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

282.10		-13.05 (-4.42%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: BHARTIARTL

Performance
1 Week	:	Rs	298.15	(-5.43%)
1 Month	:	Rs	312.65	(-9.82%)
1 Year	:	Rs	368.35	(-23.46%)

Bharti Airtel zooms 9% on huge volume

SI Reporter / Mumbai 02 Feb 12 | 11:17 AM

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Bharti Airtel has zoomed 9% to Rs 393 on back of huge volume after the Supreme Court cancelled all 122 2G licences handed out in India after 2008. The Telecom Regulatory Authority of India (TRAI) must go in for a fresh issue of licences, ruled the Supreme Court.

The trading volumes on the counter have more than doubled with a combined 9.03 million shares changing hands in morning trades, as against an average 4.05 million shares that were traded daily in past two weeks.

"Within two months the Trai will recommend fresh guidelines on the grant of new licences. The government will make its decision after one month after submission of the recommendations," reports suggest.

Cancelled licences include 9 of Idea Cellular, 3 of Tata Tele, 9 of Swan Telecom, 21 of Loop Telecom, 21 of Videocon and 22 of Uninor.