Stock market update: Telecom stocks mixed; RCom lead the pack of gainers

Stock market update: Telecom stocks mixed; RCom lead the pack of gainersTelecom stocks were trading mixed during Wednesday’s trade.

Shares of Reliance CommunicationsNSE 9.72 % (up 12.23 per cent), GTL Infrastructure (up 4.05 per cent) and GTPL Hathway (up 2.02 per cent) were the top gainers in the telecom index.

Reliance Communications’ shares surged on Wednesday, a day after it reached Rs 232 crore settlement with minority investors of its tower unit and moved closer to resolving a dispute over dues with Sweden’s Ericsson. Tata CommunicationsNSE 1.75 % (up 1.94 per cent), Tejas Networks (up 1.51 per cent), Tata Teleservices (Maharashtra) (up 0.54 per cent) and OnMobile Global (up 0.52 per cent) were also in the green.

On the other hand, GTL (down 2.35 per cent), Vindhya Telelinks (down 1.69 per cent), ITI (down 1.36 per cent), Bharti AirtelNSE -0.88 % (down 0.93 per cent) and Bharti Infratel (down 0.80 per cent) were the top losers in the telecom index.

Himachal Futuristic Communications (down 0. ..

The BSE Telecom index was trading 0.24 per cent down at 1,212 around 11:45 am.

Benchmark BSE Sensex was 144 points down at 34,806, while the NSE Nifty50 index was down 48 points at 10,586.

Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.

In the Sensex kitty, 9 stocks were up and 22 were down.

Coal India, Mahindra & Mahindra, Power Grid Corporation and NTPC were among top gainers in the Sensex index.