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Telecom stocks rally on cut talks

PTI  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.

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