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Videsh Sanchar Nigam Ltd (VSNL) was locked in the 10 per cent upper circuit band on buzz that the company was moving to sell its real estate property to unlock substantial value for the shareholders, dealers said.

They said the spurt in the VSNL shares was expected after other telecom stocks including MTNL and Bharti moved up in recent weeks. VSNL shares ended at Rs 471.40 on the BSE, compared to the previous close of Rs 428.85. Over 32.74 lakh shares were traded on the bourse as against the two-week average of just over 16 lakhs. On the NSE, the shares ended at Rs 470.75 up from Tuesday's Rs 428.25. About 76.31 lakh shares were traded on the exchange.

Rajesh Abraham

More Stories on : Stocks | Telecommunications | Real Estate & Construction | Ear to the ground | Videsh Sanchar Nigam Ltd

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