Nifty Tips
Key equity benchmarks ended a listless day of trade in the red. The BSE benchmark Sensex ended down 12.45 points at 18437.78, after touching an intraday high of 18,504.48. The NSE benchmark Nifty closed down 10.30 points at 5542.95.
Shares of Bharti Airtel ended up nearly 4 percent after the Supreme Court on Monday, allowed India’s largest telecom operator, along with Vodafone and Idea Celluar, to maintain pacts until April 11 allowing them to offer 3G services outside their licensed zones.
The telecommunications ministry had asked Bharti Airtel, Vodafone and Idea Cellular to end the pacts, which the government says are illegal. It also imposed penalties on the companies. The court will hear the case again on April 11. The dispute over the 3G pacts is one of several regulatory challenges hurting carriers in the world's second-biggest mobile phone market.
TVS Motor ended up 9.93 percent on news of its tie-up with German automaker BMW AG's motorcycle division to jointly develop bikes that will give the Indian automaker access to BMW technology as it looks to stem its falling market share.
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