Shares of telecom services provider are in demand in otherwise weak market on hopes the government may reduce spectrum price for the upcoming third round of auctions.
Idea Cellular, Bharti Airtel and Reliance Communications are up 1-4% on the Bombay Stock Exchange (BSE), as compared to 1.2% fall in benchmark Sensex at 1124 hours.
On Tuesday, the Telecom Regulatory Authority of India (TRAI) released consultation paper on valuation and reserve price of spectrum for the third auction.
“TRAI has invited comments on the quantity of spectrum that should be kept for auction, time that winner of airwaves should be given to roll out network and the method to be used for valuation and estimation of reserve price,” the PTI report suggests.
The regulator has also hinted at the possibility of lowering the base price for spectrum. In the paper, it said using the 3G spectrum price as the base to work out the value of spectrum in another frequency band was akin to comparing apples with oranges.
TRAI has sought view from parties interested in the process by August 14, counter comments by August 21. It will also hold an open house discussion on the subject on August 26.
Among the individual stocks, Idea Cellular has rallied nearly 5% to Rs 154, followed by Bharti Airtel (up 2% at Rs 337) and Reliance Communications (up 1.5% at Rs 139).
Idea Cellular, Bharti Airtel and Reliance Communications are up 1-4% on the Bombay Stock Exchange (BSE), as compared to 1.2% fall in benchmark Sensex at 1124 hours.
On Tuesday, the Telecom Regulatory Authority of India (TRAI) released consultation paper on valuation and reserve price of spectrum for the third auction.
“TRAI has invited comments on the quantity of spectrum that should be kept for auction, time that winner of airwaves should be given to roll out network and the method to be used for valuation and estimation of reserve price,” the PTI report suggests.
The regulator has also hinted at the possibility of lowering the base price for spectrum. In the paper, it said using the 3G spectrum price as the base to work out the value of spectrum in another frequency band was akin to comparing apples with oranges.
TRAI has sought view from parties interested in the process by August 14, counter comments by August 21. It will also hold an open house discussion on the subject on August 26.
Among the individual stocks, Idea Cellular has rallied nearly 5% to Rs 154, followed by Bharti Airtel (up 2% at Rs 337) and Reliance Communications (up 1.5% at Rs 139).