Telecom stocks drop after panel recommends re-farming

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Telecom stocks drop after panel recommends re-farming
Bharti Airtel: Quotes, News
BSE 395.10BSE Quote4.4 (1.11%)
NSE 395.35NSE Quote4.75 (1.20%)
Shares of telecom stocks witnessed pressure following the Telecom Commission's decision that all spectrum given to operators in the 900-MHz band would be re-farmed to the 1,800-MHz band at the time of renewal of licences, beginning 2014.

Shares of the Bharti Airtel was lower by 2.28%, Reliance Communications down 0.74%, MTNL slipped 1.77% and Idea Cellular edged lower by 0.31% on BSE at 11.15 am IST.

Telecom Secretary R Chandrashekhar said the existing operators will be allowed to bid in the auction of 900 MHz band, which is expected to take place in first half of 2013. If they are successful, they can retain the spectrum, he said.

"...If the same operator succeeds, he will retain it, if a new person succeeds, than the existing operator has 18 months to make his alternative plans and the new operator will have 18 months to put his infrastructure in place before he gets the spectrum," Chandrashekhar said.

Read more about: telecom, spectrum
Story first published: Thursday, October 18, 2012, 11:17 [IST]
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