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Telecom stocks are seen trading with a positive bias next week amid reports that the sector regulator is all set to recommend a lower base price for the next round of spectrum auction. Officials of the Telecom Regulatory Authority of India met yesterday to deliberate on the base price for spectrum, and reports suggest that the new base could be 20%-70% lower from last time. Reacting to the reports, Idea Cellular Ltd, Reliance Communications Ltd, and Bharti Airtel Ltd closed 2.5%-5.0% higher from their Thursday closes on the National Stock Exchange. The final recommendations of the regulator are expected on Sep 13, according to industry officials.
Telecom stocks are seen trading with a positive bias next week amid reports that the sector regulator is all set to recommend a lower base price for the next round of spectrum auction. Officials of the Telecom Regulatory Authority of India met yesterday to deliberate on the base price for spectrum, and reports suggest that the new base could be 20%-70% lower from last time. Reacting to the reports, Idea Cellular Ltd, Reliance Communications Ltd, and Bharti Airtel Ltd closed 2.5%-5.0% higher from their Thursday closes on the National Stock Exchange. The final recommendations of the regulator are expected on Sep 13, according to industry officials.
