Telecom shares recover as Cabinet nod for new telecom policy
Shares of telecom companies Bharti Airtel, Reliance Communications and Idea Cellular are bounce back more than 2% each from their intra-day lows after the Cabinet nod for the National Telecom Policy (NTP) 2012, which would pave the way to free national roaming.
“NTP 2012 will create a unified licensing authority for all types of licences, except those for broadcast. The policy will replace the 13-year-old New Telecom Policy 1999 that currently governs the sector," according to the media report.
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The policy also de-link spectrum from licences, reduce the number of licences, provide more liberal merger and acquisition norms to the industry and do away with roaming charges, added report.
Among the individual stocks, Ideal Cellular is trading at Rs 81.30, bouncing back almost 7% from day’s low, followed by Reliance Communications and Bharti Airtel have recovered more than 2.5% each on the Bombay Stock Exchange.