Most Telecom Stocks Fall, but RCom, Bharti Airtel Hold Up

A majority of telecom stocks were incurring losses in afternoon trade on Monday. However, there were gains in Reliance Communications (up 4.87%), Vindhya Telelinks (up 1.78%), Bharti Airtel (up 1.07%), GTL (up 0.99%) and Tejas Networks (up 0.46%) 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%), Himachal Futuristic Communications (down 2.03%), OnMobile Global (down 2.55%),  and Idea Cellular (down 2.02%) were the top losers in the telecom index.

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

The BSE Sensex was 116 points down at 37,753, while the NSE Nifty 50 index was down 36 points at 11,393.

Among the 50 stocks in the Nifty index, 22 were trading in profit, while 28 were incurring losses.