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

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture