As at 11:45 IST, Reliance Communications (down 4.93% to Rs 95.45 after gyrating between Rs 102 and Rs 91.05), Idea Cellular (down 0.96% to Rs 92.45 after gyrating between Rs 99.75 and Rs 88.85), Tata Teleservices (Maharashtra) (down 3.08% to Rs 15.75 after gyrating between Rs 16.50 and Rs 15) edged lower. Bharti Airtel (up 5.16% to Rs 379.75 after gyrating between Rs 392.95 and Rs 358.30) and MTNL (up 2.82% to Rs 30.95 after gyrating between Rs 32.10 and Rs 30), gained.
The BSE Sensex was up 58.03 points or 0.34% at 17,358.61
Today's crucial judgment was following allegations of irregularities during the 2008 allotment of the licenses and bandwidth which led to the arrest of politicians, former government officials and several industry executives.
A government auditor in late 2010 pulled up the department for giving 85 licenses bundled with bandwidth to offer mobile services to companies which didn't have the required capital. Some other license holders have also been issued notices for not meeting service launch rules.
Meanwhile, the Telecom Regulatory Authority of India (TRAI) will make fresh recommendations on grant of licenses. The government will take decision on licenses one month post TRAI recommendation.