Telecom stocks gain on spectrum rules, Idea results

Tags: Companies
Shares in telecom operators gain after Idea Cellular's April-June profit beat estimates and after the sector regulator issued guidelines for mobile phone spectrum sharing between carriers that is seen benefiting the bigger incumbents.

Idea Cellular's shares jumped after first-quarter profit rose 57 percent to 7.28 billion rupees ($120.8 million), beating consensus estimates due to a rebound in voice as well as data realisations without any pressure on volumes, traders say.

Spectrum sharing can be useful for big operators that are either facing or could face network capacity issues, analysts say.

Idea Cellular is up 5 percent, Bharti Airtel is up 5 percent while Reliance Communications in up 1.8 percent.

EDITORIAL OF THE DAY

  • India crosses the threshold with its military action across the LoC

    Are days of strategic restraint over? Are war clouds looming large over India and Pakistan?

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

BK Chaturvedi

We must improve our primary education

Census data has indicated that about eight crore children are ...

Zehra Naqvi

The fountain of eternal youth

The pursuit of eternal youth is a multi-billion dollar industry ...

Shona Adhikari

Where Bhupen Khakhar rubs shoulders with Georgia O'Keeffe

The next India Art Fair (IAF) is scheduled to take ...