Telecom stocks buzz ahead of EGoM meet
Shares of telecom companies were in action ahead of meeting of EGoM, headed by Finance Minister Pranab Mukherjee, to discuss spectrum price.
By ET Online | Updated:
MUMBAI: Shares of telecom companies were in action ahead of a meeting of the Empowered Group of Ministers, headed by Finance Minister Pranab Mukherjee, to discuss the spectrum price, payment terms and network rollout obligations for the auction of airwaves due before August 31.
The EGoM is likely to decide on the reserve price of airwaves in the 1,800 MHz band. The Telecom Regulatory Authority of India recommended that the reserve price for each unit of airwaves in the 1800 MHz band be Rs 3,622 crore.
The EGoM is also likely to decide if telecom companies can mortgage airwaves as collateral to borrow from banks.
Bharti Airtel (0.84 percent), Idea Cellular (0.91 percent) and Tata Communications (1.34 percent) moved higher, while Reliance Communications was down 0.78 percent.
The EGoM is likely to decide on the reserve price of airwaves in the 1,800 MHz band. The Telecom Regulatory Authority of India recommended that the reserve price for each unit of airwaves in the 1800 MHz band be Rs 3,622 crore.
The EGoM is also likely to decide if telecom companies can mortgage airwaves as collateral to borrow from banks.
Bharti Airtel (0.84 percent), Idea Cellular (0.91 percent) and Tata Communications (1.34 percent) moved higher, while Reliance Communications was down 0.78 percent.
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