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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.

SI Reporter  |  Mumbai 

Lack of investment to seize the 4G ecosystem is a major concern for industry players now. It is this gap that has been exploited by RJio after entering the market in September last year

Shares of service providers were trading higher by up to 5% on the in early morning trade after the government cleared a for the debt-ridden sector, giving more time to operators to pay for the 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 These stocks have surged by upto 5% on the in early morning trade. On comparison, the S&P Sensex was up 0.62% at 33,239 points.

The Cabinet has approved the two key measures to facilitate investments and consolidation in the sector, facing Rs 4.6 trillion debt, the PTI report suggested quoting an official spokesperson.

These include restructuring of deferred payment liabilities of service providers for and revision of limit of holding caps.

These measures are expected to increase the cash flow for operators immediately, providing them some relief, added report.


First Published: Thu, March 08 2018. 09:41 IST
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