Bharti Airtel gains ahead of 2G decision

he telecom ministry decides on spectrum and airwave related-issues.

 

Reuters Market Eye - Shares in telecom operator Bharti Airtel gains 3.8 percent on expectations for a favourable decision as a panel of ministers is scheduled to meet on Wednesday to decide on which prices to charge for 2G radio airwaves at an upcoming auction.

The ministerial panel has the final say on most auction rules, but the base price needs to be approved by the cabinet.

Traders also attribute Bharti share gains to its recent underperformance.

The stock has risen 1 percent this month compared to its peers Idea Cellular and Reliance Communications , which have gained 9.5 and 7.6 percent, respectively, ahead of the 2G outcome.