Telecom stocks in demand

Shares of five telecom companies rose by 1.8% to 8.37% at 13:16 IST on BSE on reports Defence Ministry and Telecom Ministry will coordinate to resolve spectrum issue.

Reliance Communications (up 8.37% to Rs 114), Tata Teleservices (Maharashtra) (up 4.08% to Rs 9.44), MTNL (up 3.57% to Rs 29.05), Idea Cellular (up 2.68% to Rs 168.70) and Bharti Airtel (up 1.8% to Rs 399.35) edged higher.

Meanwhile, the S&P BSE Sensex was up 38.77 points, or 0.14% at 28,216.65

Defence Minister Manohar Parrikar and Telecom Minister Ravi Shankar Prasad have reportedly agreed to work in consent, coordination and synergy to resolve spectrum related issues. Based on various recommendations and agreements, the Department of Telecommunications (DoT) expects Defence ministry to clear about 165 Mhz of spectrum across frequency bands. Out of all bands, there is immediate demand for 3G spectrum in frequency band 2100 Mhz. Telecom regulator Telecom Regulatory Authority of India (TRAI) has recommended that spectrum in 2100 Mhz band, a part of which is with the Defence Ministry, should be put up for auction along with two sets of spectrum bands- 900Mhz and 1800Mhz in February next year, reports added.

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