There were 699 advances, 941 declines and 273 unchanged stocks on NSE, reflecting negative undertone floating in the market.
Idea was the top Nifty gainer whereas Grasim was the topNifty loser in Thursday’s trading session.
Idea and Bharti Airtel contributed the most to the BSE Telecom index’s gains. BSE Telecom index closed at 1306.93 levels, up by 23.35 points or 1.82%.
Idea closed at Rs 119.80 per share, up by Rs 7.20 per share or 6.39%. Bharti Airtel closed at Rs 366.40 per share, up by Rs 5.40 per share or 1.5%. Airtel touched its fresh 52-week high of Rs 401 per share, up by
Rs 40 per share or 11.1%.
Bharti Airtel entered into a definitive agreement to acquire Telenor India. The proposed acquisition will include transfer of all Telenor India’s assets and customers, further augmenting Airtel’s overall customer base and network. It will also enable Airtel to further bolster its strong spectrum foot-print in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band.
As a part of the agreement, Airtel will acquire Telenor India’s running operation in seven circles- Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP East and West and Assam. These circles represent a high population concentration and therefore offer high potential for growth.
IT giants, TCS and Infosys lifted the BSE Information Technology index on Thursday. BSE IT index closed at 10378.56 levels, up by 173.89 points or 1.7%.
TCS closed at Rs 2481.80 per share, up by Rs 70.3 per share or 2.91%.
Reliance Industries Limited touched its fresh 52-week high of Rs 1222 per share, up by Rs 14.50 per share or 1.20% in the morning hours on Thursday, but slipped in further trade, witnessing profit booking. The stock closed in red at Rs 1186.80 per share, down by Rs 20.70 per share or 1.71%.
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