GTL spurted 8.69% to Rs 138.90 with volumes of 38.35 lakh shares as against an average daily volume of 3.66 lakh shares in the past one quarter.

GTL Infrastructure surged 4.15% to Rs 17.55 with volumes of 78.46 lakh shares as against an average daily volume of 8.08 lakh shares in the past one quarter.

The BSE Sensex was up 75.58 points or 0.43% to 17,582.21.

GTL had underperformed the market over the past one month until 20 June 2011, slumping 69.09% compared with the Sensex's 4.47% fall. The scrip had also underperformed the market in past one quarter, sliding 69.10% as against 2.08% decline in the Sensex.

GTL Infrastructure had underperformed the market over the past one month until 20 June 2011, falling 50.66% compared with the Sensex's 4.47% fall. The stock had also underperformed the market in past one quarter, sliding 53.90% as against 2.08% decline in the Sensex.

On Monday, 20 June 2011, GTL and GTL Infrastructure slumped 62% and 43%, respectively, with both the stocks falling on heavy volumes. Telecom network services provider GTL had declined a staggering 62.4% to Rs 127.80 on that day. The stock had hit a 52-week low of Rs 124.10 on that day.

GTL told the National Stock Exchange (NSE) during trading hours on Monday, 20 June 2011, that the company continues to conduct its business in normal course and is focusing on growing the business. In GTL, the promoters hold 52.71% of the equity capital of the company, it said. The promoters have pledged only 12.85% of the equity capital of the company, which was already intimated to the stock exchanges, as part of a regular disclosure, the company said. The company said neither promoters nor entities relating to promoters have sold any shares, including the shares that have been pledged.

Shares of another Global Group firm GTL Infrastructure had tanked 43.27% to Rs 16.85 on Monday, 20 June 2011. The stock had hit a lifetime low of Rs 15.75 on that day. In its reply to the stock exchanges with regard to media reports that the company has scrapped fund raising plans, GTL Infrastructure said during trading hours on Monday that the present market conditions, policy clarity on telecom sector and global market sentiments are not favorable for fund raising at this stage. The company further said it is into a highly capital intensive business and it will raise funds at appropriate time.

GTL Infrastructure said the company continues to conduct its business in normal course and is focusing on growing the business. In GTL Infrastructure, the promoters and promoter group hold 58.34% of the equity capital of the company. The promoters and promoter group have not pledged any shares, the company said.