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    Share market update: Telecom shares surge after TDSAT sets aside TRAI order

    Synopsis

    Benchmark NSE Nifty50 index was down 0.95 points at 10,790.6 while BSE Sensex was down 11.51 points at 35,918.13.

    ETMarkets.com
    NEW DELHI: Telecom shares were trading in the green after Telecom Disputes Settlement and Appellate Tribunal (TDSAT) set aside sector regulator Telecom Regulatory Authority of India's (TRAI) rule on predatory pricing for lack of transparency in the guidelines over determining market share and rates of services.

    The S&P BSE Telecom index was up 3.51 per cent at 989.4 on Friday.

    TDSAT judgement comes as a major relief to Bharti Airtel and Vodafone Idea which had in March challenged the amendment made by TRAI to the telecommunication tariff order.

    Shares of Vodafone Idea (up 6.45 per cent), Bharti Airtel (up 5.83 per cent), Reliance Communications (up 3.49 per cent) and Tejas Networks (up 3.05 per cent) were the top performers in the index.

    Tata Communications (up 2.05 per cent), Vindhya Telelinks (up 1.56 per cent), Tata Teleservices (Maharashtra) (up 1.30 per cent) and Himachal Futuristic Communications (up 1.04 per cent) too were trading in the green.

    Benchmark NSE Nifty50 index was down 0.95 points at 10,790.6 while BSE Sensex was down 11.51 points at 35,918.13.

    Among the 50 stocks in the Nifty index, 26 were trading in the green, while 24 were in the red.

    Shares of Reliance Communication, South Indian Bank, PC Jeweller, YES Bank, JP Associates, Infibeam Avenues, JM Financial, Indian Oil Corp, Jet Airways, Motherson Sumi, ITC, PFC, Suzlon Energy, Reliance Naval and Ashok Leyland were among the most traded shares on the NSE.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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