Shares in Idea Cellular , India's third-biggest mobile operator, gained as much as 4 per cent after posting a better-than-expected 60 per cent jump in quarterly profit, helped by higher data revenue and strong subscriber growth.
Idea's operating profit was ahead of estimates as network operating costs declined despite adding 4,983 cell sites, mainly due to lower fuel costs, investment bank CLSA said in a note.
Rival Bharti Airtel's shares fell as much as 2.4 per cent after its quarterly results lagged estimates.
At 9.30 am, Idea shares were up 1.43 per cent or Rs 2.75 at Rs 194.60 while Bharti Airtel shares declined 0.90 per cent or Rs 3.60 at Rs 397.15 on the NSE.