Telecom Sector Report for the week (09 - 13.07.2012)

[rupeedesk]

Telecom Sector Report for the week (09 - 13.07.2012)

 Telecom stocks are seen trading higher next week on the back of the split judgement given by the Telecom Disputes Settlement and Appellate Tribunal Tuesday on the legality of intra-circle roaming pacts between operators for 3G services. The verdict means there is a status-quo as of now, whereby service providers like Bharti Airtel, Vodafone India and Idea Cellular, which do not have 3G spectrum in some circles, can continue providing 3G services in circles where they do not have licence, according to legal counsel representing the companies. Stocks will also takes cues from the meeting of the Empowered Group of Ministers likely to be held on Monday. The panel will be now headed by Home Minister P. Chidambaram. According to reports, the panel will now only decide the modalities of the 2G spectrum auction process, whereas the contentious issue of spectrum reserve price will be decided by the Union Cabinet. Stocks of Bharti Airtel are seen trading positively, as investors havetaken long positions and as the stock has been able to close above its crucial resistance level of 320 rupees.

By RUPEE DESK

rupe...@googlegroups.com