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Majority of telecom stocks fall, but RCom, Bharti Airtel hold up
TT Correspondent |  |  13 Aug 2018

A majority of telecom stocks were incurring losses in afternoon trade on Monday.

However, gains in Reliance Communications (up 4.87 per cent), Vindhya Telelinks (up 1.78 per cent), Bharti Airtel (up 1.07 per cent), GTL (up 0.99 per cent) and Tejas Networks (up 0.46 per cent) restricted the fall for the sectoral index.

The S&P BSE Telecom index was trading flat at 1,172 around 01:20 pm.

GTPL Hathway (down 3.20 per cent), OnMobile Global (down 2.55 per cent), Himachal Futuristic Communications (down 2.03 per cent) and Idea Cellular (down 2.02 per cent) were the top losers in the telecom index.

Bharti Infratel (down 1.28 per cent), Aksh Optifibre (down 1.26 per cent), Mahanagar Telephone Nigam (down 0.96 per cent), Tata Communications (down 0.71 per cent), Sterlite Technologies (down 0.69 per cent), GTL Infrastructure (down 0.68 per cent) and ITI (down 0.64 per cent) too were among the losers.

The BSE Sensex was 116 points down at 37,753, while the NSE Nifty50 index was down 36 points at 11,393.

Among the 50 stocks in the Nifty index, 22 were trading in the green, while 28 were in the red.

In the Sensex index, 15 stocks were advancing, while 16 were incurring losses.

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13 Aug 2018(IST)  
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