Bharti Airtel, Idea gain on lower 2G auction prices

Thu Nov 15, 2012 1:54pm IST

A shopkeeper uses a mobile phone inside a Bharti Airtel store in Agartala, November 7, 2012. REUTERS/Jayanta Dey/Files

A shopkeeper uses a mobile phone inside a Bharti Airtel store in Agartala, November 7, 2012.

Credit: Reuters/Jayanta Dey/Files

Related Topics

Stocks

   

Reuters Market Eye - India's wireless services providers rise after an auction of 2G airwaves attracts less demand than targeted by the government because prices are seen as too high.

The low prices give a respite to the debt-ridden industry, with the government raising less than one fourth of the targeted 400 billion rupees via the auction, which is being undertaken after the Supreme Court ordered the cancellation of permits granted in a scandal-tainted process in 2008.

Barclays Capital says the lower pricing is a "positive outcome" for the industry, but warns there is still a lack of clarity on the timing of the government's next step to find market prices for spectrum.

Bharti Airtel (BRTI.NS) gains 3.2 percent, while Idea Cellular (IDEA.NS) rises 3.5 percent as of 1:54 a.m.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage