The empowered group of ministers (EGoM) on telecom has decided to lower the base price for the re-auction of the four circles, that did not find any bidders in the 2G auction held last month by 30%, according to reports.
Reports stated that no decision was taken on the auction of airwaves in the CDMA spectrum.
This was the first meeting of the ministerial panel after the auction of second-generation (2G) airwaves flopped last month.
Nearly half of the GSM airwaves that the government sought to auction across India’s 22 telecom circles remained unsold.
Of the five telcos that bid for GSM airwaves, Videocon won four blocks each in six circles and Idea won four blocks each in seven circles, says report.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.