Telecom stocks edge lower

Three telecom stocks fell 0.26% to 2.05% at 10:45 IST on BSE after the government postponed until 4 March 2015, the auction of mobile phone airwaves which was earlier slated to start on 25 February 2015.

Idea Cellular (down 0.26%) and Tata Teleservices (Maharashtra) (down 0.43%) edged lower.

Shares of Reliance Communications were unchanged at Rs 82.10. Shares of Mahanagar Telephone Nigam were also unchanged at Rs 27.05.

Bharti Airtel was off 2.05% at Rs 385. The stock hit a high of Rs 394.45 and a low of Rs 382.70 so far during the day. According to reports, Emirates Telecommunications Corp., the United Arab Emirates's largest phone company by market value, received offers from Vodacom Group and Bharti Airtel to acquire Emirates Telecommunications' controlling stake in Zanzibar Telecom.

Meanwhile, the S&P BSE Sensex was down 61.51 points or 0.21% at 29,509.53.

The Department of Telecom (DoT) in a circular dated 27 January 2015 said that it has postponed until 4 March 2015 the auction of mobile phone airwaves which was earlier slated to start on 25 February 2015. The last date of submission of applications by mobile operators has also been moved to 16 February 2015 from 6 February 2015.

Meanwhile, as per reports, the Cabinet is likely to consider today, 28 January 2015 the reserve price for spectrum auction in the 2,100 MHz band, which is being used for providing 3G mobile services. Inter-ministerial panel Telecom Commission has suggested a base price of Rs 3705 crore per megahertz as 3G spectrum base price for the upcoming auction, scheduled for 4 March 2015.

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