Telecom companies' shares rise after relief on 3G roaming

Shares of Indian telecom companies rose after an Indian telecoms tribunal on Saturday asked the government not to take any "coercive" action over an order to ban 3G roaming pacts among firms until the next hearing of the case, giving temporary respite to companies that appealed against the order.

Updated on: Jan 2, 2012, 11:45:56 IST

Reuters | By HT Correspondent

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Shares of Indian telecom companies rose after an Indian telecoms tribunal on Saturday asked the government not to take any "coercive" action over an order to ban 3G roaming pacts among firms until the next hearing of the case, giving temporary respite to companies that appealed against the order.

The Telecom Disputes Settlement and Appellate Tribunal ( TDSAT) has set Jan. 3 as the next date for hearing the case.

India's telecoms ministry told carriers on Friday that they were not allowed to offer 3G services beyond the zones where they have their own radio airwaves, such as via roaming pacts with one another, asking them to comply with the order within 24 hours.

At 9:41 a.m, shares of Idea Cellular were up 2.98 percent at 81.10 rupees and Bharti Airtel were up 2.62 percent at 339.60 rupees.

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