The Telegraph
Since 1st March, 1999
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Bharti charms bourses

Mumbai, Oct. 28: The Bharti share has zoomed on bourses in the past few sessions as investors who had second thoughts over its prospects realised it would not lose out if limited mobility firms dominate the market.

The gains were the sharpest today even as the Bharti Tele-Ventures management was muted in its response to Traiís recommendation on unified licensing. The share surged 16.33 per cent to an intra-day high of Rs 89 before profit-booking drove it down to Rs 82.85 at close. It was still up from Mondayís Rs 76.50.

On Monday, the telecom regulator floated a plan to weave landline and cellular telephony services into a unified licence regime that will kick in over the next six months.

Analysts believe Trai recommendations will not affect the GSM-driven Bharti in the battle of turf with CDMA operators largely because it has a pan-India footprint.

Trai sought to end the legal wrangling with its proposals, but a suit filed by cellular operators against the approval for limited mobility made that look remote.

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