Meanwhile, the BSE Sensex was up 21.02 points, or 0.12%, to 17,252.13.

On BSE, 8.17 lakh shares were traded in the counter as against an average daily volume of 19.59 lakh shares in the past one quarter.

The stock hit a high of Rs 38 and a low of Rs 36.75 so far during the day. The stock had hit a 52-week high of Rs 49.70 on 5 June 2009 and a 52-week low of Rs 27.60 on 25 March 2009.

The stock had outperformed the market over the past one month till 23 December 2009, rising 7.74% as compared to the Sensex's 0.30% gain. It underperformed the market in past one quarter, declining 4.11% as against 3.06% rise in the Sensex.

The mid-cap telecom Infrastructure provider has an equity capital of Rs 956.61 crore. Face value per share is Rs 10.

According to reports, GTL Infra has outbid rival Tata-Quippo in the negotiations to buy a total of 17,500 towers of Aircel that will take its total to 33,000 and will give it access to another 20,000 that are being set up.

That will make it the second-largest independent telecom infrastructure provider in the country. The enterprise value of the deal may be around Rs 8,500 crore, including a debt of Rs 4,500 crore.

The deal may be funded out of internal accruals of the GTL group, reports added.

GTL Infrastructure reported a net loss of Rs 37.88 crore in Q2 September 2009 as against a net profit of Rs 14.49 crore in Q2 September 2008. Sales rose 53.2% to Rs 81.31 crore in Q2 September 2009 over Q2 September 2008.

The company provides passive telecom infrastructure and related network infrastructure for multiple service providers.