IDEA Cellular stock rise outperforms benchmark indices

The stock of IDEA Cellular surges as much as 2.5 per cent outperforming other stocks from telecom industry on Nifty 50 index. 

Meanwhile, IDEA has joined court battle against Reliance Jio for continuing its promotional offer of free calls and data services beyond 90 days. The move was driven by company's filing a plea with the Telecom Disputes Settlement Appellate Tribunal (TDSAT) against the telecom regulator. IDEA followed footsteps of Bharti Airtel which had filed a similar complaint last year. 

Nothwithstanding the fact that IDEA is one of the top gainers of Nifty 50 after trailing near its 52 week low levels in the previous session. With this, the Telecom service industry stocks remain positive for the day where most of the stocks witnessed short covering. Apart from IDEA, other companies like Bharti Airtel is 1.94 per cent up at 319 levels. Tata Communications is up 2.4 per cent at 690 levels. Reliance Communication is also marginally up with 0.63 per cent at 32.2 levels while MTNL is up 1 per cent at 20.3 levels.