BSE Telecom: These small-cap stocks emerged as the top gainers in the sector on July 12

As the telecom sector emerges as the top gaining sector, these stocks in that sector rallied the most.

As the telecom sector is abuzz with the upcoming auction of fifth-generation or 5G telecom services including high-speed internet, the stocks in the sector are in action. The recent development of Adani Group bidding in the auction has caused a substantial stir as it would intensify competition in the enterprise services segment. Consequently, shares of Bharti Airtel were the biggest loser in the sector, losing 3 per cent in today’s trade. However, MTNL, ITI and Tejas Networks rallied on the bourses.  

At the closing bell on July 12, the Sensex closed at 53,234.77, up by 0.6 per cent or 326.84 points, while the Nifty index closed at 15,835.35, up 0.5 per cent or 83.30 points.  

  ITI, MTNL and Tejas Networks witnessed positive action in today’s session.  

  ITI witnessed a gain of 15.12 per cent in today’s session and closed at Rs 112.70. The shares of ITI Ltd hit intra-day highs and lows of Rs 116.80 and 101.10, respectively. The shares of the telecom turnkey solution provider were the biggest gainer in the “A” Group in today’s session gaining 19.4 per cent. 

MTNL Ltd gained 9.68 per cent in today’s session and closed at Rs 25.50. The shares of MTNL hit intra-day highs and lows of Rs 26.80 and 22.70, respectively. MTNL is the fixed-line telecommunication service provider in the two metropolitan cities of Delhi and Mumbai. In the last one week, shares of MTNL have risen 36 per cent on the back of the 5G spectrum auction. 

Tejas Networks witnessed a gain of 6.72 per cent in today’s session and closed at Rs 491.70. The shares of Tejas Network Ltd hit an upper circuit of 10 per cent during the day’s trades at Rs 506.80.