Telecom stocks gain after mobile spectrum auction

Telecom stocks gained on Friday after a mobile unit of Reliance Industries did not win any spectrum in the premium 900 megahertz in an auction for airwaves, which could help ease competition in the sector.

Idea Cellular rose as much as 6.7 percent, while Bharti Airtel rose 4.8 percent after both won airwaves in premium 900 megahertz band spectrum.

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