Shares of the telecom operators affected by the Supreme Court's verdict on new 2G licences tumbled but Bharti Airtel gained on speculation it might benefit from the re-allocation of the licences.
Shares of RCOM, DB Realty, Unitech, Videocon Industries, Idea Cellular and TTML are among the top losers.
The initial reaction of the market was also down, but the key indices soon regained their composure before dipping again. At this point, the Nifty turned red briefly while the Sensex just about managed to slip into the negative zone.
Both the main indices are trading marginally higher in early afternoon trade.
Unitech, which has a JV with Telenor in India, was down nearly 7% at 12:38 pm (IST).
RCOM was down close to 4% despite saying that all its licences have been issued prior to January 2008.
DB Realty was down ~3%, TTML was down ~2% while Videocon Industries lost over 1%.
On the other hand, Bharti Airtel was down ~7%.
No comments:
Post a Comment