Telecom stocks were ringing loud with reports that spectrum auction received additional bids worth Rs 3,100 crore on the third day to take total commitments to Rs 59,981 crore, leaving two-thirds of total quantum of on-offer airwaves unsold as bidders stayed away from high-cost 700 Mhz and 900 Mhz bands.
Tata Communications is currently trading at Rs. 599.25, up by 23.60 points or 4.10% from its previous closing of Rs. 575.65 on the BSE. The scrip opened at Rs. 580.00 and has touched a high and low of Rs. 603.00 and Rs. 580.00 respectively. So far 109261 shares were traded on the counter.
Idea Cellular is currently trading at Rs. 81.30, up by 0.15 points or 0.18% from its previous closing of Rs. 81.15 on the BSE. The scrip opened at Rs. 82.10 and has touched a high and low of Rs. 82.50 and Rs. 81.05 respectively. So far 262719 shares were traded on the counter.
Bharti Airtel is currently trading at Rs. 323.75, up by 0.30 points or 0.09% from its previous closing of Rs. 323.45 on the BSE. The scrip opened at Rs. 316.35 and has touched a high and low of Rs. 326.20 and Rs. 316.35 respectively. So far 22471 shares were traded on the counter.
The auction has entered the 16th round. Bids worth Rs 59,981 crore have come for 750 Mhz of spectrum out of 2354.55 Mhz put for auction. There is no demand yet for the 700 MHz and 900 MHz frequencies while bidding interest continues to be largely around 1800 MHz and 2300 MHz that can be used by operators to provide 4G services.
The second day of the auction had also seen a tepid response from bidders with additional bids of just Rs 3,341 crore to take the total commitments to Rs 56,872 crore. The finance ministry in the Budget pegged the revenue target at Rs 98,995 crore from the telecom space. This included Rs 64,000 crore from the auction.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1601.70 |
| Vodafone Idea | 7.91 |
| Indus Towers | 347.90 |
| Tata Communications | 1840.65 |
| Bharti Hexacom Ltd. | 1420.60 |
| View more.. | |
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