Bharti Airtel, Idea Cellular rally on SC verdict on 3G roaming case

NEW DELHI: Telecom stocks such as Bharti Airtel, Idea Cellular surged nearly 4 per cent on Monday, after the Supreme Court allowed the telecom companies to continue 3G pacts until next hearing on April 11.

At 0320 pm, Bharti Airtel was trading 3.9 per cent higher at Rs 279.60. It has hit a low of Rs 270.25 and a high of Rs 284.55 in trade today.

Idea Cellular was trading 3.5 per cent higher at Rs 106.90. It has hit a low of Rs 101.10 and a high of Rs 107.30 in trade today.

The Department of Telecommunications ( DoT) on March 15 had issued a notification restraining Bharti from providing 3G intra-circle roaming facilities in seven circles where it did not have the spectrum and also levied a penalty of Rs 350 crore (Rs 50 crore per circle) for violating the licence terms and conditions.

“The telecom major has challenged the decision of the division bench of the high court which had set aside its single judge's March 18 order staying the DoT notification,” PTI said in a report.