Bharti Airtel is set to join an elite group of companies having a market cap of Rs4 trillion. The stock hit a fresh record high of Rs719.60, up 4% on the BSE in intra-day trade on Wednesday.
The BSE Telecom index was trading at 1,736.87 up 49 points or 2.90%, after touching a new high of 1,740.29 and a low of 1,692.98 during the intraday trade.
The top contributor to the index gain was Bharti Airtel which was up over 4% and also top gainers on the index, followed by Vodafone Idea, Indus Tower, Tejas Network, HFCL and GTPL.
Among the top gainer in the telecom index is Optiemus jumped 5%, GTL Infra zoomed 4.58% and Bharti Airtel climbed 4%. Whereas, Tejas Network and RCOM rose 2%.
On the flip side, STL Tech and Tata Comm are in the red zone on the telecom index.
Meanwhile, the Nifty zoomed 91 points at 17,471.40 and the Sensex jumped 342 points at 58,589.54.