Telecom stocks rally on cut talks
Mumbai, February 26, 2013
First Published: 22:20 IST(26/2/2013)
Last Updated: 22:21 IST(26/2/2013)
Shares of Bharti Airtel and Idea Cellular surged as much as 9% amid reports that the government is likely to cut the reserve price for airwaves after just one company bid for the spectrum auction next month.
Airtel touched an intra-day high of R334.55 before ending at R311.30, a
rise of 1.38% from Monday. Idea Cellular surged over 4.43% to an early high of R118.85 before ending Tuesday at R118, up 3.69%, on BSE.