Telecom shares Bharti Airtel, Idea Cellular and Reliance Communications advanced after the Telecom Commission said it wanted at least 10 MHz of airwaves to be auctioned in each telecom zone, which is higher than the 5 MHz suggested by the Telecom Regulatory Authority of India (TRAI).
Bharti Airtel was also aided by news it signed a pact to buy a 49% stake in Qualcomm Inc's fourth-generation (4G) broadband venture in India for $165mn.
Shares of Bharti Airtel were trading at Rs.298.80 up 0.3% over the previous close. It had touched a day’s high of Rs.303 and a day’s low of Rs.297.20. The total traded quantity of the shares stood at 2.26 lakh shares on the BSE.
Shares of Idea Cellular were trading at Rs.77.60, unchanged over the previous close. It had touched a day’s high of Rs.79.10 and a day’s low of Rs.77.15. The total traded quantity of the shares stood at 3.43 lakh shares on the BSE.
Shares of Reliance Communications were trading at Rs.65.10, up 0.85% over the previous close. It had touched a day’s high of Rs.66 and a day’s low of Rs.64.50. The total traded quantity of the shares stood at 13.15 lakh shares on the BSE.