Shares of telecom companies were up today as the Telecom Commission on Tuesday agreed with the Telecom Regulatory Authority of India’s recommendation of raising spectrum holding limit of mobile operators.
The commission also extended the tenure for the payment of auctioned airwaves to 16 years from 12 years and lowered penalties on outstanding dues of the companies to 12% from 14%.
The decision of raising spectrum holding limit is seen facilitating the merger of Vodafone with Idea Cellular and the acquisition of Reliance Communication’s mobile business by Reliance Jio Infocomm.
Reliance Communications Ltd is currently trading at Rs33.25, up by Rs0.5 or 1.53% from its previous closing of Rs32.75 on the BSE. The scrip opened at Rs33.3 and has touched a high and low of Rs34.05 and Rs33.15, respectively.
Idea Cellular Ltd is currently trading at Rs110, up by Rs1.4 or 1.29% from its previous closing of Rs108.6 on the BSE. The scrip opened at Rs112.9 and has touched a high and low of Rs113.5 and Rs109.35, respectively.
Bharti Airtel Ltd is currently trading at Rs510.45, up by Rs0.45 or 0.09% from its previous closing of Rs510 on the BSE. The scrip opened at Rs514 and has touched a high and low of Rs517.45 and Rs509.5, respectively.
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