Reliance Communications (RCom) gained 2.41% to Rs 82.90 on volume of 45.71 lakh shares on BSE. RCom operates on both GSM and CDMA platforms.
Tata Teleservices (Maharashtra) advanced 2.44% to Rs 12.61 on volume of 9.97 lakh shares on BSE. Tata Teleservices (Maharashtra) has presence in GSM and CDMA platforms in the telecom circles of Maharashtra (including Mumbai) and Goa.
Meanwhile, the BSE Sensex was up 154.72 points or 0.78% at 19,972.35
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The Union Cabinet today, 17 January 2013, approved reduction in reserve price for the auction of spectrum in 800 MHz band for CDMA (Code Division Multiple Access) by 50% from the previous reserve price approved by the Union Cabinet at its meeting held on 3 August 2012. As regards payment for spectrum currently held in 800 MHz band by existing CDMA operators in all service areas where auction determined price is not available, it has been decided that such operators be charged at the revised reserve price, with effect from 1 January 2013 on the applicable quantum of spectrum, till such time as auction determined price becomes available, and that after the auction price becomes available, the earlier payment made on the basis of reserve price would be adjusted against the amount actually due. This is expected to result in further efficient utilisation of the scarce natural resource of spectrum facilitating proliferation of telecom services in the country, the government said in a statement today, 17 January 2013.
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