Telecom is the leading gainer today on the back consolidation in sector. Bharti Airtel surged 4.8 percent on acquisition of Telenor India while Idea Cellular jumped over 7 percent after a media report indicated that Japanese fund SoftBank is likely to pick up some stake in proposed merged entity but the fund denied stake buy.
In yet another consolidation in telecom industry, IndiaĆ¢s largest telecom operator Bharti Airtel informed the bourses on Thursday that it will acquire Telenor India assets. The move comes at a time when new entrant Reliance Jio has acquired 100 million users and the market is awaiting response on a potential Vodafone-Idea merger.
Note: Any changes made to your Portfolio today will be effective only in the next day's Networth mailer.
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