With the Telecom Disputes Settlement Appellate Tribunal (TDSAT) giving a split verdict on 3G roaming, telecom stocks witnessed a sharp spike in trading volume on the NSE today.
But in terms of price, the impact was not substantial, though Bharti Airtel gained about 3 per cent or Rs 10 per share.
According to media reports, the TDSAT ruled that the 3G roaming pacts within a circle were illegal. But in view of a split verdict, the telecom companies could continue with their services till DoT took a call on the issue.
Bharti Airtel stock was up by Rs 10.65 or 3.43 per cent to Rs 320.85 on the NSE following the TDSAT decision.
The trading volume was huge at 35.23 lakh shares. IDEA Cellular was another gainer in the telecom space, up by Rs 3.05 to Rs 80.70 with a trading volume of 36.34 lakh shares.
RCom was relatively subdued with the stock moving up by just Re 1 to Rs 65.15. This counter also recorded a surge in volume of 39.62 lakh shares. Tata Teleservices was another stock to witness significant trading volume of 12.50 lakh shares. But the gain was just 20 paise per share.
The PSU telecom player MTNL too sizzled - in terms of volume. The stock was up 80 paise to Rs 24.70 with 18.30 lakh shares being traded on the NSE.