Telecom stocks edge lower

Shares of three telecom companies fell 0.87% to 2.25% at 13:08 IST on BSE after telecom regulator TRAI yesterday, 25 February 2015, issued 6th Amendment to the Telecommunication Mobile Number Portability Regulation, 2009.

Tata Teleservices (Maharashtra) (down 2.25%), Mahanagar Telephone Nigam (down 1.55%), and Reliance Communications (down 0.87%), edged lower. Idea Cellular (up 0.49%) edged higher.

Meanwhile, the S&P BSE Sensex was down 158.31 points or 0.55% at 28,849.68.

Bharti Airtel rose 0.52% at Rs 349.60. The stock hit a high of Rs 352.80 and a low of Rs 348.10 so far during the day. Bharti Airtel said before market hours today, 26 February 2015 it has decided to sell up to 5.5 crore shares (with an upsize option of up to 1.75 crore additional shares) of its subsidiary company Bharti Infratel today, 26 February 2015 through stock exchanges. The transaction is subject to market conditions. The company will provide further updates, as necessary, upon consummation of the transaction.

Telecom Regulatory Authority of India (TRAI) yesterday, 25 February 2015, issued 6th Amendment to the Telecommunication Mobile Number Portability Regulation, 2009 which will facilitate Full MNP (PAN India Portability) in the country with effect from 3 May 2015.

Accordingly, in this Amendment, apart from facilitating Pan-India Portability, a few changes have also been made in the porting process as well, which include, in case a post-paid subscriber who has ported his number defaults in the payment of his previous bill which was due to the Donor Operator(previous service provider from whom the subscriber has ported out), the Donor Operator has to give a notice within a period of 30 days of due date of payment of its outstanding bill. After a lapse of 60 days from the due date of payment of the outstanding bill, the Donor Operator will not be entitled to raise non-payment disconnection requests with the Recipient Operator. For a post paid subscriber who has defaulted payment to the Donor Operator, the Donor operator will request the Recipient operator to disconnect the ported number. The Recipient Operator in turn will give a notice of 15 days for making such payment, failing which the outgoing services of such subscriber will be debarred for a period of 15 days. In case the subscriber fails to make payment within these 15 days, his mobile number will be disconnected permanently by the Recipient Operator.

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