MUMBAI Bharti Airtel (BRTI.NS) shares rose as much as 2.9 percent on Wednesday on continued hopes the government will be forced to cut the reserve prices for the remaining auctions of airwaves, thus improving the earnings outlook for the sector.
Shares also benefitted after Morgan Stanley raised its rating on Bharti Airtel Ltd to "overweight" from "equalweight," citing positive factors such as rising tariffs and data volumes, falling capital spending and eased competitive intensity.
Bharti shares were up 2.3 percent as of 9:28 a.m. after gaining 1.56 percent on Tuesday.
(Reporting by Manoj Dharra; Editing by Rafael Nam)
IKEA to continue doing business with Welspun India, awaits sales probe
NEW DELHI Swedish home furnishing giant IKEA AB said it would continue doing business with Welspun India while it awaits the outcome of the Indian textile manufacturer's probe into its sales practices.
India to receive normal rains, not surplus, as La Nina chances fade
MUMBAI/NEW DELHI India will receive normal rainfall over the 2016 monsoon season, not surplus as previously expected, with the chances of a La Nina weather pattern emerging over the period seen as unlikely, three senior officials at state-run weather department said.
Gold edges higher as dollar dips, Fed in focus
Gold rose slightly on Thursday after hitting a four-week low in the previous session, with the dollar losing strength ahead of a speech by Federal Reserve Chair Janet Yellen that will be closely watched for clues on U.S. interest rate policy.