Telecom shares down after SUC for new spectrum at 5% of AGR

SUC for new spectrum will be a maximum of 5% of adjusted gross revenue.

Telecom shares were trading weak after the Empowered Group of Ministers on telecom, at its meeting on spectrum fee issue, announced that the Subscriber Usage Charge for new spectrum will be a maximum of 5% of adjusted gross revenue.

The subcriber usage charge would be computed using weighted average method.

Bharti Airtel was down 1.6% at Rs 308, Idea Cellular was down 2.4% at Rs 149 and Reliance Communications was down 3% at Rs 125.