Telecom stocks gain up to 3%

Led by Bharti Airtel,telecom companies gained up to 3 per cent on the BSE.

Written by Agencies | Mumbai | Published:October 10, 2011 8:29 pm

Led by Bharti Airtel,telecom companies gained up to 3 per cent on the BSE after the government unveiled a new policy that will help users avail free roaming services across the country and inter-circle mobile number portability.

Shares of the country’s largest private telecom company Bharti Airtel closed with 2.38 per cent gain at Rs 363.25 on the BSE,recouping from its early losses.

Idea Cellular settled up 2.33 per cent at Rs 92.40 while Reliance Communications rose by 1.72 per cent to Rs 74.05.

“Surge in the stocks was a knee-jerk reaction to the draft telecom policy 2011. But,unless and until there is clarity on the 2G issue,investors will refrain from any long-term investment plan in telecom scrips,” CNI Research CMD Kishore P Ostwal said.

Telecom operators would not require separate licences for operations in various parts of the country and a single licence would suffice.

Besides,cable stocks like Den Networks,Hathway Cable & Datacom and Dish TV India,too,settled with 3.34 per cent,2.38 per cent and 1.14 per cent gains.

The draft policy aims at converging mobile telephony,multimedia and broadcast services to offer superior experience to customers.

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