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Telecom stocks rally on EGOM’s recommendation for up to 50% cut in CDMA base price

07 Jan 2013 Evaluate

Shares of telecom companies like Reliance Communications (RCOM) and Tata Teleservices are on gaining spree ever since telecom minister Kapil Sibal reported the cabinet will soon decide the reserve price for the CDMA spectrum band. The EGoM, led by Finance Minister P Chidambaram, has referred the decision on the reserved price for CDMA to the Cabinet.

Tata Teleservices (Maharashtra) is currently trading at Rs. 12.73, up by 0.43 points or 3.50 % from its previous closing of Rs. 12.30 on the BSE. The scrip opened at Rs. 12.31 and has touched a high and low of Rs. 12.90 and Rs. 12.31 respectively. So far 596430 shares were traded on the counter.

Reliance Communications is currently trading at Rs 82.90, up by 2.30 points or 2.85% from its previous closing of Rs 80.60 on the BSE. The scrip opened at Rs 80.90 and has touched a high and low of Rs 83.45 and Rs. 80.75 respectively. So far 2320823 shares were traded on the counter.

The Empowered Group of Ministers (EGoM) has recommended a cut of up to 50 percent in the auction reserve price for airwaves used by phone carriers operating on the CDMA platform, raising the odds for the local unit of Russia's Sistema to continue operating in the world's second-biggest mobile phone market

Reliance Comm Share Price

1.05 0.01 (0.96%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Bharti Airtel 1846.55
Vodafone Idea 9.62
Indus Towers 412.35
Tata Communications 1521.05
Bharti Hexacom Ltd. 1538.30
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