Stocks of Bharti Airtel broke a 8 day losing streak

Bharti Airtel Ltd., India's top mobile services provider, snapped an 8-day losing streak after the Cabinet approved the sector's new rules governing usage of radio spectrum.

As a consequence, mobile companies will now be allowed to share radio waves in the same frequency in a bid to cut down congestion and improve voice quality. Call drops, the bane of mobile users in India, will also come down. This is a major step forward for the sector, which until recently was allowed to share only passive infrastructure such as mobile towers. Companies will also face lower costs when it comes to installing equipment which improves call quality.

Bharti Airtel gained 10.9 rupees, or 2.7 percent, to 409.55 rupees on the National Stock Exchange were 21 lakh shares changed hands by 11:10 AM compared with a 5-day average of 33 lakh shares.

Bharti's market capitalisation has gained 11 percent in one year to 1.64 lakh shares.

Image credit: Indiatimes