Bharti Airtel, Idea gain on lower 2G auction prices
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.
- Tweet this
- Share this
- Digg this
- Pakistani family sentenced to death over "honour killing" outside court
- Obama announces action on sweeping U.S. immigration reform
- Tears, smiles in Nevada over U.S. immigration reform some call bittersweet
- Modi's divide and rule weakens Coal India unions as strike looms
- Kotak bank buys ING Vysya in record $2.4 billion share deal
A Different Past
Indians were flying aeroplanes and may even have been using cosmic weapons 5,000 years ago, according to Y. Sudershan Rao, the chairman of Indian Council of Historical Research. The BJP appointed Rao to the academic post soon after winning the general election, fuelling concerns of a push to teach the superiority of Hindu values and mythology at the cost of academic rigour. Full Article