India's equity benchmark indexes were flat at open on Wednesday, as gains in Reliance Industries and Bharti Airtel after deals with Elon Musk's SpaceX to bring Starlink's internet services to India offset the drop in IT stocks.

Reliance Jio and Bharti Airtel have formed partnerships with Elon Musk's Starlink for distributing its satellite internet services in India. The deals mark a strategic shift for both telecom giants, previously opponents of satellite companies,

Telco giant Airtel Tuesday announced a partnership with SpaceX to launch Starlink’s high-speed satellite internet services in India — years after Elon Musk’s company made its first moves to enter the country, the world’s second-largest internet market after China.