Bharti ends lower despite licence lift

Dalal Street Spikes

 The counter moved up on good buying support after the company announced that it has applied for six new cellular licences. This will give the company a presence in almost all of India.

 Bharti Cellular, a subsidiary of BTL, is said to have applied for cellular licence in six new circles - Bihar, Jammu & Kashmir, Orissa, Rajasthan, Uttar Pradesh (East) and West Bengal including Andaman & Nicobar. Bharti Cellular has licence to operate in 15 telecom circles.

 For the second quarter ended 30 September 2003, on a consolidated basis, Bharti Tele-Ventures reported a net profit of Rs 93.33 crore, compared to a net loss of Rs 129 crore in the corresponding period of the previous year.