The no-show at the latest spectrum auction by the government sent telecom stocks rallying on Tuesday.
On signals that the government might cut its reserve price yet again due to no participation at all in GSM spectrum auctions, Bharti Airtel's stock went up 8.7 per cent in intra-day trade. It closed 1.4 per cent higher at Rs 311 per share.
Idea Cellular's stock was up 3.6 per cent in Tuesday trade to close at Rs 118 per share. The stock of Reliance Communications however fell by two per cent, and closed at Rs 67.8 per share.
On signals that the government might cut its reserve price yet again due to no participation at all in GSM spectrum auctions, Bharti Airtel's stock went up 8.7 per cent in intra-day trade. It closed 1.4 per cent higher at Rs 311 per share.
Idea Cellular's stock was up 3.6 per cent in Tuesday trade to close at Rs 118 per share. The stock of Reliance Communications however fell by two per cent, and closed at Rs 67.8 per share.