Telecom stocks surge as govt fails to get bid for spectrum auction
26th February 2013 11:18 AM
Major telecom stocks such as Bharti, Idea and RCom gained on Tuesday after the Department of Telecom (DoT) said it has not received applications for GSM spectrum auctions in 1800MHz and 900MHz bands. The deadline for submitting applications was Monday.
Bharti Airtel surged 4.07%, to trade at Rs 319.55. Total volume of shares traded on the bourses today was lower by 28.77% to 3,669,488 compared with 22-day average volume of 5,151,334.Idea Cellular climbed 2.99%, to trade at Rs 117.20. Total volume of shares traded on the bourses today was lower by 22.34% to 3,279,013 compared with 22-day average volume of 4,222,506.Reliance Communications gained 0.79%, to trade at Rs 69.80. Total volume of shares traded on the bourses today was lower by 81.29% to 2,787,730 compared with 22-day average volume of 14,901,711.
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