Shares of five telecom companies rose 0.06% to 9.17% at 14:09 IST on BSE on media reports that the government is likely to issue details for the upcoming spectrum auction in the 800 MHz, 900 MHz, 1,800 MHz and 2,100 MHz band by 6 January 2015.
Tata Teleservices (Maharashtra) (up 9.17%), Bharti Airtel (up 0.7%), Idea Cellular (up 0.66%), Mahanagar Telephone Nigam (up 0.36%), and Reliance Communications (up 0.06%) edged higher.
Meanwhile, the S&P BSE Sensex was up 415.74 points or 1.51% at 27,923.28.
According to reports, the Cabinet will also take a decision on the base price for the spectrum auction -- scheduled for 23 February 2015 next week. Sector regulator Telecom Regulatory Authority of India (TRAI) recently recommended a base price of Rs 2720 crore per megahertz pan-India for sale in 2,100 MHz band -- used for offering 3G services, which is about 19% lower than what operators paid in 2010.
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