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Select telecom stocks are expected to be rangebound next week, with stocks of Bharti Airtel Ltd likely to trade volatile after the telecom department slapped a 3.50-bln-rupee fine on the company yesterday. Bharti Airtel has been asked by the telecom department to cease offering 3G roam services with effect from 1500 IST Monday. The telecom department had been claiming that companies who won 3G spectrum in 2010, including Bharti Airtel, are not allowed to provide 3G roaming services. However, Bharti Airtel, Idea Cellular and Vodafone India are currently in pact to provide intra-circle 3G roaming. Bharti Airtel has been asked to stop 3G services in seven circles and the penalty levied for violation in each circles is 500 mln rupees. The stocks of the company have seen substantial decline in valuation in the current month and in the coming week trade is expected to be volatile.
Select telecom stocks are expected to be rangebound next week, with stocks of Bharti Airtel Ltd likely to trade volatile after the telecom department slapped a 3.50-bln-rupee fine on the company yesterday. Bharti Airtel has been asked by the telecom department to cease offering 3G roam services with effect from 1500 IST Monday. The telecom department had been claiming that companies who won 3G spectrum in 2010, including Bharti Airtel, are not allowed to provide 3G roaming services. However, Bharti Airtel, Idea Cellular and Vodafone India are currently in pact to provide intra-circle 3G roaming. Bharti Airtel has been asked to stop 3G services in seven circles and the penalty levied for violation in each circles is 500 mln rupees. The stocks of the company have seen substantial decline in valuation in the current month and in the coming week trade is expected to be volatile.
