Share price of Reliance Communication surged 12.47 per cent to Rs 62.70,
The Cabinet cleared spectrum trading guidelines on Wednesday under which telecom operators will be able to sell radiowaves to other service providers, a move that will help address the problem of spectrum shortage.
Cheering the announcement, share price of Reliance Communication surged 12.47 per cent to Rs 62.70, followed by Bharti Airtel and Idea Cellular which gained 2.55 per cent and 3.01 per cent at Rs 355.60 and Rs 150.50, respectively in the afternoon trade. Sensex was up 411 points at 25,730.
“Cabinet has approved spectrum trading today. Telecom sector has been demanding it for optimum utilisation of spectrum,” Telecom Minister Ravi Shankar Prasad said.
As of now only government is allowed to allocate spectrum to telecom firms through auctions.
The decision move is expected to increase efficient use of radiowaves by enabling telecom operators, who have a low subscriber base or unutilised spectrum lying with them, to trade in radiowaves.
(With inputs from PTI)
| Subscribe To Our Free Newsletter |
