Telecom shares gain as Cabinet approves relief package

Bharti Airtel, Idea Cellular and Reliance Communications were trading higher in the range of 1% to 2% on the BSE at 09.36 am.

Shares of telecom service providers were trading higher by up to 5% on the BSE in early morning trade after the government cleared a relief package for the debt-ridden sector, giving more time to operators to pay for the spectrum bought in auctions.

At 09:36 am; Bharti Airtel, Idea Cellular and Reliance Communications were trading higher in the range of 1% to 2% on the BSE. These stocks have surged by upto 5% on the BSE in early morning trade. On comparison, the S&P BSE Sensex was up 0.62% at 33,239 points.

The Cabinet has approved the two