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S&P BSE Telecom index buzzes, Idea top contributor

The S&P BSE Telecom index was buzzing during Tuesday’s trade on the BSE as the Department of Telecom (DoT) and the Finance Ministry have agreed on providing relief to the debt-burdened telecom sector.

As reported by a leading business daily, the relief measures may include nearly doubling the deferred payment period for spectrum bought in auctions and reducing the interest burden on these companies.

The S&P BSE Telecom index was at 1,471.61, up by 22.19 point or 1.53% as at 1056 hours on Tuesday, on the BSE. Idea Cellular was contributing most to the index gains and was trading up by 4.63% at Rs 96.20.

Among other telcos, Tata Communications, Vindhya Telelinks, Himachal Futuristic Communications, Bharti Infratel, Reliance Communications, MTNL, and Bharti Airtel were also trading in green territory.