Four telecom stocks rose 0.33% to 2.25% at 11:17 IST on BSE on reports the Telecom Commission has lowered the annual spectrum usage fee to 3% of revenue for all bands in the upcoming spectrum auction scheduled in July.
Bharti Airtel (up 2.25% at Rs 357.15), Reliance Communications (up 1.96% at Rs 50.05), Mahanagar Telephone Nigam (up 0.8% at Rs 18.85) and Idea Cellular (up 0.38% at Rs 105.75) edged higher. Tata Teleservices (Maharashtra) (down 1.43% at Rs 6.23) edged lower.
Shares of Reliance Industries (RIL) were off 0.25% at Rs 952.25. Unlisted Reliance Jio Infocomm (RJIL) is a telecom arm of RIL.
Meanwhile, the S&P BSE Sensex was up 3.93 points or 0.01% at 27,013.60.
According to reports, the Telecom Commission (TC) lowered the annual spectrum usage charge (SUC) to 3% of revenue for all bands in the upcoming auction slated for July and brought the 4G airwaves purchased in 2010 under the ambit of a formula to calculate the overall fee for each carrier.
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