Telecom stocks gain on spectrum rules, Idea results
Jul 22 2014 , Mumbai
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.