Telecom stocks rise as spectrum payment timeline extended
BSE Telecom Index snapped a five-day decline and rose 0.42% in today’s trade. The Union Cabinet on Wednesday approved easing of spectrum holding limit, based on recommendations of the Telecom Regulatory Authority of India. It also raised the tenure of spectrum payments for mobile operators.
“Revising the limit for spectrum cap holding will facilitate the consolidation of telecom licensees and may encourage participation in the future auction,” the government said on Twitter.
Bharti Airtel has contributed 7.5 points in the telecom sector. Infratel is the second highest contributor adding 2 points followed by TTML contributing 1 point.
Bharti Airtel Ltd is currently trading at Rs407.80, up by Rs4.4 or 1.09% from its previous closing of Rs403.40 on the BSE. The scrip opened at Rs412 and has touched a high and low of Rs414 and Rs406.80, respectively.
Bharti Infratel Ltd is currently trading at Rs330.55 up by Rs0.8 or 0.24% from its previous closing of Rs329.75 on the BSE. The scrip opened at Rs331.90 and has touched a high and low of Rs333.10 and Rs324.65, respectively.
Tata Teleservices (Maharashtra) Ltd is currently trading at Rs5.74 up by Rs0.13 or 2.32% from its previous closing of Rs5.61 on the BSE. The scrip opened at Rs5.65 and has touched a high and low of Rs5.89 and Rs5.65, respectively.
Tejas Networks Ltd is currently trading at Rs314.90 up by Rs5.1 or 1.65% from its previous closing of Rs309.80 on the BSE. The scrip opened at Rs314.70 and has touched a high and low of Rs323 and Rs312.25, respectively.