Shares in telecom companies rose sharply after reports that the government would take up the issue in June.
Bharti Airtel surged a huge 3.3 per cent and the stock was last trading at Rs 408. Idea Cellular was up almost 2 per cent and Reliance Communication was up almost 3 per cent in trade.
The Economic Times quoted Telcommunications Minister Ravi Shankar prasad as saying that the spectrum sharing issue would be taken up by the cabinet by the end of June.
This led to s sharp rally in the share price of RCOM, Bharti and Idea Cellular. There are hopes that companies can improve their profitability if there is a spectrum sharing agreement. How far this is approved by the Union Cabinet remains to be seen.
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