Bharti Airtel shares recover by 6%, snap 5-day fall
Snapping its five-session losing streak, Bharti Airtel on Thursday recovered smartly on bourses gaining nearly 6 percent on value buying at lower levels.
Mumbai: Snapping its five-session losing streak, Bharti Airtel on Thursday recovered smartly on bourses gaining nearly 6 percent on value buying at lower levels.
Shares of the telecom major had jumped nearly 8 percent during the day before settling at Rs 298, still up by 5.99 percent over its previous close, on the BSE.
At National Stock Exchange, the stock jumped 6.05 percent to end at Rs 297.
Bharti Airtel was the top gainer on Sensex and Nifty.
In the past five trading sessions, Bharti's shares have crashed by about 11.5 percent.
A Delhi court had on Tuesday summoned as accused Sunil Bharti Mittal, Essar Group promoter Ravi Ruia and five others in a case relating to alleged irregularities in allocation of additional spectrum to Airtel and Vodafone during the NDA regime.
The telecom firm had however said, "We will fight this charge sheet against Bharti Airtel and Sunil Bharti Mittal, Chairman of Bharti Airtel."
In the stock market, the BSE benchmark Sensex ended at 18,792.87, down 91.32 percent.