Bharti Airtel falls; government approves airwave auction base price

Mumbai: Shares in Bharti Airtel fell as much as 2.4 per cent on Tuesday due to concerns about the cost of acquiring mobile phone airwaves at an auction planned by the government.

India said on Monday it expects to raise 648.40 billion rupees ($10 billion) from the sale of 900 Mhz and 1,800 MHz band airwaves.

Bharti shares were down 1.2 per cent compared with a 1.3 per cent fall in the broader NSE index.