Bharti Airtel gains on likely spectrum allocation

Mumbai: Bharti Airtel gained around 7 per cent at Rs 386 on likely allocation of spectrum on Thursday.

However, The Supreme Court (SC) has cancelled 122 licenses issued after January 2008. TRAI will make fresh recommendations on grant of licenses. Also, all spectrum issues post Jan 2008 to be cancelled. The government will take decision on licenses 1 month post TRAI recommendation, reports CNBC-TV18.

Around 9 licenses of Idea have been cancelled.

The share touched an intraday high of Rs 392.95 and an intraday low of Rs 358.30. It was trading with volumes of 959,155 shares.