ALSO READTelecom shares rally; Idea, RCom up over 5%, Bharti Airtel hits 8-year high BSE Telecom index nears record high; up 3% IUC cut ignores spectrum cost: Idea Cellular Raise market power limit to 50% or more, Idea Cellular tells Trai No need for urgent relief to Idea, Airtel over IUC: Trai to Bombay HC
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 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 measures are expected to increase the cash flow for telecom operators immediately, providing them some relief, added report.